A release of one of two or more joint debtors does not extinguish the obligations of any of the others, unless they are mere guarantors; nor does it affect their right to contribution from him or her, except as provided in Section 877 of the Code of Civil Procedure.
Cal. Civ. Code § 1543
Release
Applied in 1 court decision — leading case In Re National Mortgage Equity Corp. Mortgage Pool Certificates Securities Litigation (1987)
Most recently applied in In Re National Mortgage Equity Corp. Mortgage Pool Certificates Securities Litigation (September 1987)
Amended by Stats. 1987, Ch. 677, Sec. 1.5.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.