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Miss. Code Ann. § 75-3-116

Joint and several liability; contribution

Known as the Uniform Commercial Code

The act spans §§ 75–75 (480 sections).

Applied in 2 court decisions — leading case 515 So. 2d 1217 - Matter of Estate of Holloway (1987)

Most recently applied in Thigpen v. Allstate Indemnity Co. (January 1991)

Former § 75-3-116: Codes, 1942, § 41A:3-116; Laws, 1966, ch. 316, § 3-116; Laws, 1992, ch. 420, § 16; Laws, 2010, ch. 506, § 15, eff from and after July 1, 2010.

Except as otherwise provided in the instrument, two (2) 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.

Except as provided in Section 75-3-419(f) 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.

Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.