Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 3. · Article 3. NEGOTIABLE INSTRUMENTS · Part 1. GENERAL PROVISIONS AND DEFINITIONS

11-3-116. Joint and several liability; contribution.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who indorse as joint payees, or anomalous indorsers are jointly and severally liable in the capacity in which they sign.#
(b)
Except as provided in subsection (e) of Code Section 11-3-419 or by agreement of the affected parties, a party having joint and several liability who pays the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law.#
(c)
Discharge of one party having joint and several liability by a person entitled to enforce the instrument does not affect the right under subsection (b) of this Code section of a party having the same joint and several liability to receive contribution from the party discharged.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-3-116, enacted by Ga. L. 1996, p. 1306, § 3.

Law reviews

For article, “Wills, Trusts & Administration of Estates,” see 53 Mercer L. Rev. 499 (2001).

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 360; merge action: carried; file SHA-256 ad397fccbf21.

Ask about this section

The answer is drawn from this section and, when they fit, the other sections of its chapter. It quotes the text and names the section for each claim. Not legal advice.