- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 3. Negotiable Instruments
- Section 116. Joint and Several Liability; Contribution.
previous: Section 115
. Incomplete Instrument.
next: Section 117
. Other Agreements Affecting Instrument.
AS 45.03.116. Joint and Several Liability; Contribution.
- (a) Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as
makers, drawers, acceptors, endorsers who endorse as joint payees, or anomalous endorsers are jointly and severally
liable in the capacity in which they sign.
- (b) Except as provided in AS 45.03.419
(e), 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
- (c) Discharge of one party having joint and several liability by a person entitled to enforce the instrument does not
affect the right under (b) of this section of a party having the same joint and several liability to receive
contribution from the party discharged.
All content © 2008 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.