General Obligations Law 15-103 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 15-102 Co-obligor not a party up TITLE 1 Discharge of Joint Obligors next SECTION 15-104 Discharge of one obligor, with reservations Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 15-103 Consideration to be credited to co-obligor General Obligations (GOB) CHAPTER 24-A, ARTICLE 15, TITLE 1 § 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.