§ 6A-3-116 - Joint and several liability – Contribution. - Rhode-island Statutes

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Statutes > Rhode-island > Title-6a > Chapter-6a-3 > 6a-3-116

SECTION 6A-3-116

§ 6A-3-116 Joint and several liability– Contribution. – (a) Except as otherwise provided in the instrument, two or more persons whohave the same liability on an instrument as makers, drawers, acceptors,indorsers who indorse as joint payees, or anomalous indorsers are jointly andseverally liable in the capacity in which they sign.

(b) Except as provided in § 6A-3-419(e) or by agreementof the affected parties, a party having joint and several liability who paysthe instrument is entitled to receive from any party having the same joint andseveral liability contribution in accordance with applicable law.

(c) Discharge of one party having joint and several liabilityby a person entitled to enforce the instrument does not affect the right undersubsection (b) of a party having the same joint and several liability toreceive contribution from the party discharged.

State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-3 > 6a-3-116

SECTION 6A-3-116

§ 6A-3-116 Joint and several liability– Contribution. – (a) Except as otherwise provided in the instrument, two or more persons whohave the same liability on an instrument as makers, drawers, acceptors,indorsers who indorse as joint payees, or anomalous indorsers are jointly andseverally liable in the capacity in which they sign.

(b) Except as provided in § 6A-3-419(e) or by agreementof the affected parties, a party having joint and several liability who paysthe instrument is entitled to receive from any party having the same joint andseveral liability contribution in accordance with applicable law.

(c) Discharge of one party having joint and several liabilityby a person entitled to enforce the instrument does not affect the right undersubsection (b) of a party having the same joint and several liability toreceive contribution from the party discharged.

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State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-3 > 6a-3-116

SECTION 6A-3-116

§ 6A-3-116 Joint and several liability– Contribution. – (a) Except as otherwise provided in the instrument, two or more persons whohave the same liability on an instrument as makers, drawers, acceptors,indorsers who indorse as joint payees, or anomalous indorsers are jointly andseverally liable in the capacity in which they sign.

(b) Except as provided in § 6A-3-419(e) or by agreementof the affected parties, a party having joint and several liability who paysthe instrument is entitled to receive from any party having the same joint andseveral liability contribution in accordance with applicable law.

(c) Discharge of one party having joint and several liabilityby a person entitled to enforce the instrument does not affect the right undersubsection (b) of a party having the same joint and several liability toreceive contribution from the party discharged.