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 obligation of all co-obligors to whom the obligor or obligors giving the consideration did not stand in the relation of a surety.
Utah Code § 15-4-3
Payments by co-obligor
Applied in 2 court decisions — leading case Jorgensen v. Aetna Casualty & Surety Co. (1988)
Most recently applied in Lange v. Eby (March 2006)
No Change Since 1953
Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.