There is a newer version
of
the New York Laws
2017 New York Laws
GOB - General Obligations
Article 15 - Modification and Discharge of Obligations
Title 1 - Discharge of Joint Obligors
15-103 - Consideration to Be Credited to Co-Obligor.
Universal Citation: NY Gen Oblig L § 15-103 (2017)
15-103. Consideration to be credited to co-obligor. The amount or value of any 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 in partial satisfaction of their obligations, shall be credited to the extent of the amount received on the obligations of all co-obligors to whom the obligor or obligors giving the consideration did not stand in the relation of a surety.
Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
