Statute · New York General Obligations Law
N.Y. Gen. Oblig. Law § 15-103 — Consideration to be credited to co-obligor
N.Y. Gen. Oblig. Law § 15-103
- Type
- Statute
- Source
- New York General Obligations Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 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…
Citator
N.Y. Gen. Oblig. Law § 15-103 — Consideration to be credited to co-obligor is in force in the current edition of the Code, and nothing recorded condemns it.
§ 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.