There is a newer version of the New York Consolidated Laws
2006 New York Code - Effect Of Consent Where Petitioner Is A Joint Debtor.
§ 57. Effect of consent where petitioner is a joint debtor. A creditor's consent does not affect his remedy against any person or persons indebted jointly with the petitioner; and the petitioner's discharge has the effect, as between the creditor and the other joint debtors, of a composition between the petitioner and the creditor, made as prescribed in title one of article fifteen of the general obligations law.
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