New York Statutes
§ 15-107 — Release of partner
New York·Law GOB General Obligations·Title 1 Discharge of Joint Obligors·Art. 15 Modification and Discharge of Obligations
§ 15-107. Release of partner. A release of a partner from a\npartnership liability shall release his co-partners from the same\nliability to the creditor giving the release, but after a partnership\nhas been dissolved, by consent or otherwise, any partner may make a\nseparate composition or compromise with any partnership creditor, and\nsuch composition or compromise shall discharge from such liability the\npartner making it, and him only.\n
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Related
Schuman v. Gallet, Dreyer & Berkey, L. L. P.
180 Misc. 2d 485 (New York Supreme Court, 1999)
Schuman v. Gallet, Dreyer & Berkey, L. L. P.
280 A.D.2d 310 (Appellate Division of the Supreme Court of New York, 2001)
NAB Asset Venture IV, L.P. v. Orange-Burg Equities
299 A.D.2d 528 (Appellate Division of the Supreme Court of New York, 2002)
Nearby Sections
15
§ 15-101
Definitions§ 15-102
Co-obligor not a party§ 15-106
Death of joint obligor§ 15-107
Release of partner§ 15-108
Release or covenant not to sue§ 15-109
Uniformity of interpretation§ 15-110
Inconsistent laws repealed§ 15-501
Executory accord