N.Y. Debtor & Creditor Law § 57

§ 57. Effect of consent where petitioner is a joint debtor. A\ncreditor's consent does not affect his remedy against any person or\npersons indebted jointly with the petitioner; and the petitioner's\ndischarge has the effect, as between the creditor and the other joint\ndebtors, of a composition between the petitioner and the creditor, made\nas prescribed in title one of article fifteen of the general obligations\nlaw.\n