Arkansas Code Annotated
Ark. Code Ann. § 4-3-116 (2020)
Joint and several liability — Contribution
✓ Arkansas Code release r76: Acts through about 2020 (2021-2025 sessions missing)
- 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 § 4-3-419(e) 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.
- [Repealed.]
History. Acts 1991, No. 572, § 5; 2005, No. 856, § 29.
Case Notes
Cited: Integon Indem. Corp. v. Bull, 311 Ark. 61, 842 S.W.2d 1 (1992).
Notes of Decisions
Cited in 1
case, 1992–1992 · leading case: Integon Indem. Corp. v. Bull, 842 S.W.2d 1 (Ark. 1992).
Integon Indem. Corp. v. Bull, 842 S.W.2d 1 (Ark. 1992). “We note that, by way of Instruction #23, the jury was instructed that Bull, Integon and Amwest claim superior rights in the respective certificates of deposit and that entitlement to the proceeds of the respective certificates of deposit was an issue the jury would have to…”
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