UNIFORM COMMERCIAL CODE
Act 174 of 1962
440.3116 Joint and several liability.
Sec. 3116.
(1) Except as otherwise provided in the instrument, 2 or more persons who have the same liability on an instrument as makers, drawers, acceptors, endorsers who endorse as joint payees, or anomalous endorsers are jointly and severally liable in the capacity in which they sign.
(2) Except as provided in section 3419(6) or by agreement of the affected parties, a party having joint and several liability who pay the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law.
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993 ;-- Am. 2014, Act 101, Imd. Eff. Apr. 10, 2014
Compiler's Notes:
In subsection (2), “pay” evidently should read “pays.”
Notes of Decisions
Word Investments, Inc. v. Bruinsma (In Re TML, Inc.), 291 B.R. 400 (Bankr. W.D. Mich. 2003).
· cites it 6× “In support of his statutory contribution claim, the Trustee cites section 440.3116 of the Michigan UCC, which provides that two or more parties who have the same liability on an instrument are jointly and severally hable in the capacity in which they sign.”
Michigan Ins. Repair Co. v. Mfrs. Nat'l Bank, 487 N.W.2d 517 (Mich. Ct. App. 1992).
“MCL 440.3116; MSA 19.3116 provides as follows: An instrument payable to the order of 2 or more persons (a) if in the alternative is payable to any one of them and may be negotiated, discharged or enforced by any of them who has possession of it; (b) if not in the alternative is…”
— Mich. Comp. Laws § 440.3116(1) — 1 case
Word Investments, Inc. v. Bruinsma (In Re TML, Inc.), 291 B.R. 400 (Bankr. W.D. Mich. 2003).
“In support of his statutory contribution claim, the Trustee cites section 440.3116 of the Michigan UCC, which provides that two or more parties who have the same liability on an instrument are jointly and severally hable in the capacity in which they sign.”
— Mich. Comp. Laws § 440.3116(2) — 1 case
Word Investments, Inc. v. Bruinsma (In Re TML, Inc.), 291 B.R. 400 (Bankr. W.D. Mich. 2003).
“In support of his statutory contribution claim, the Trustee cites section 440.3116 of the Michigan UCC, which provides that two or more parties who have the same liability on an instrument are jointly and severally hable in the capacity in which they sign.”
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