2005 Nevada Revised Statutes - Chapter 101 — Joint Obligations (Uniform Act)

CHAPTER 101 - JOINT OBLIGATIONS (UNIFORMACT)

NRS 101.010 Shorttitle.

NRS 101.020 Termsdefined.

NRS 101.030 Dischargeof coobligor by judgment.

NRS 101.040 Paymentscredited to coobligors.

NRS 101.050 Releasewith reservation of rights.

NRS 101.060 Releasewithout reservation of rights.

NRS 101.070 Deathof joint obligor.

NRS 101.080 Chapternot retroactive.

NRS 101.090 Uniformityof interpretation.

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NRS 101.010 Shorttitle. This chapter may be cited as theUniform Joint Obligations Act.

[9:35:1927; NCL 3708]

NRS 101.020 Termsdefined. In this chapter, unless otherwiseexpressly stated:

1. Obligation includes a liability in tort.

2. Obligee includes a person having a right based ona tort.

3. Obligor includes a person liable for a tort.

[1:35:1927; NCL 3700]

NRS 101.030 Dischargeof coobligor by judgment. A judgment againstone or more of several obligors, or against one or more of joint, or of jointand several obligors, shall not discharge a coobligor who was not a party tothe proceedings wherein the judgment was rendered.

[2:35:1927; NCL 3701]

NRS 101.040 Paymentscredited to coobligors. The amount or value ofany consideration received by the obligee from one or more of several obligors,or from one or more of joint, or of joint and several obligors, in whole or inpartial satisfaction of their obligations, shall be credited to the extent ofthe amount received on the obligations of all coobligors to whom the obligor orobligors giving the consideration did not stand in the relation of a surety.

[3:35:1927; NCL 3702]

NRS 101.050 Releasewith reservation of rights. Subject to theprovisions of NRS 101.040, the obligeesrelease or discharge of one or more of several obligors, or of one or more ofjoint, or of joint and several obligors, shall not discharge coobligors,against whom the obligee in writing and as part of the same transaction as therelease or discharge expressly reserves his rights; and in the absence of sucha reservation of rights shall discharge coobligors only to the extent providedin NRS 101.060.

[4:35:1927; NCL 3703]

NRS 101.060 Releasewithout reservation of rights.

1. If an obligee releasing or discharging an obligorwithout express reservation of rights against a coobligor, then knows or hasreason to know that the obligor released or discharged did not pay so much ofthe claim as he was bound by his contract or relation with that coobligor topay, the obligees claim against that coobligor shall be satisfied to theamount which the obligee knew or had reason to know that the released ordischarged obligor was bound to such coobligor to pay.

2. If an obligee so releasing or discharging anobligor has not then such knowledge or reason to know, the obligees claimagainst the coobligor shall be satisfied to the extent of the lesser of twoamounts, namely, (1) the amount of the fractional share of the obligor releasedor discharged, or (2) the amount that such obligor was bound by his contract orrelation with the coobligor to pay.

[5:35:1927; NCL 3704]

NRS 101.070 Deathof joint obligor. On the death of a jointobligor in contract, his executor or administrator shall be bound as suchjointly with the surviving obligor or obligors.

[6:35:1927; NCL 3705]

NRS 101.080 Chapternot retroactive. This chapter shall not applyto obligations arising prior to July 1, 1927.

[7:35:1927; NCL 3706]

NRS 101.090 Uniformityof interpretation. This chapter shall be sointerpreted and construed as to effectuate its general purpose to make uniformthe law of those states which enact it.

[8:35:1927; NCL 3707]

 

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