Utah § 70A-3-116 Joint and several liability -- Contribution.

Utah Statutes

§ 70A-3-116 — Joint and several liability -- Contribution.

Utah § 70A-3-116

Title 70AUniform Commercial Code

Ch. 70A-3Uniform Commercial Code - Negotiable Instruments

Part 70A-3-1General Provisions and Definitions

This text of Utah § 70A-3-116 (Joint and several liability -- Contribution.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 70A-3-116 (2026).

Text

(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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(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 contribution from the party discharged.