N.Y. General Obligations Law Section 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.

Source: Section 15-103 — Consideration to be credited to co-obligor, https://www.­nysenate.­gov/legislation/laws/GOB/15-103 (updated Sep. 22, 2014; accessed May 11, 2024).

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Accessed:
May 11, 2024

Last modified:
Sep. 22, 2014

§ 15-103’s source at nysenate​.gov

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