Utah Statutes
§ 70A-3-116 — Joint and several liability -- Contribution.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-3 Uniform Commercial Code - Negotiable Instruments·Part 70A-3-1 General Provisions and Definitions
(1)Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who indorse as joint payees, or anomalous indorsers are jointly and severally liable in the capacity in which they sign.
(2)Except as provided in Subsection 70A-3-419(5) or by agreement of the affected parties, a party having joint and several liability who pays the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law.
(3)Discharge of one party having joint and several liability by a person entitled to enforce the instrument does not affect the right under Subsection (2) of a party having the same joint and several liability to receive contributio
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Related
Tronson v. Eagar
2019 UT App 212 (Court of Appeals of Utah, 2019)
Legislative History
Repealed and Re-enacted by Chapter 237, 1993 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.