431.150. Creditor may compound with one of several debtors — release — what sums. — It shall be lawful for every creditor of two or more debtors, joint or several, to compound with any and every one or more of his debtors for such sum as he may see fit, and to release him or them from all further liability to him for such indebtedness, without impairing his right to demand and collect the balance of such indebtedness from the other debtor or debtors thereof, and not so released; provided, that no such release shall impair the right of any debtor of such indebtedness, not so released, to have contribution from his codebtors, as is by law now secured to him.
Notes of Decisions
Cited in
6
cases, 1965–1999 · leading case:
Sansone v. Moseley, 912 S.W.2d 666 (Mo. Ct. App. 1995).
Sansone v. Moseley, 912 S.W.2d 666 (Mo. Ct. App. 1995).
· cites it 8× “It states: It shall be lawful for every creditor of two of more debtors, joint and several, to compound with any and every one or more of his debtors for such sum as he may see fit, and to release him or them from all further liability to him for such indebtedness, without…”
Ennis v. McLaggan, 608 S.W.2d 557 (Mo. Ct. App. 1980).
· cites it 7× “Section 431.150, RSMo 1978, provides in part that: “It shall be lawful for every creditor of two or more debtors, joint or several, to compound with any and every one or more of his debtors for such sum as he may see fit, and to release him or them from all further liability to…”
Bishop v. United Missouri Bank of Carthage, 647 S.W.2d 625 (Mo. Ct. App. 1983).
· cites it 4× “3-606 applies to the Bishops as comakers, the Bishops are still liable on the note under § 431.150. 5 We find, however, that while § 431.”
Schiffer v. United Grocers, Inc., 989 P.2d 10 (Or. 1999).
· cites it 2× “Missouri: Mo Rev Stat § 431.150 (Vernon 1992 and Supp 1998) ("It shall be lawful for every creditor of two or more debtors, joint or several, to compound with any and every one or more of his debtors for such sum as he may see fit, and to release him or them from all further…”
Lowes v. Penrod, 767 S.W.2d 616 (Mo. Ct. App. 1989).
· cites it 2× “” *618 § 431.150 RSMo 1986; Ennis v. McLaggan, 608 S.”
Dolan v. Comm'r, 44 T.C. 420 (T.C. 1965).
“Nor is it arguable that respondent's actions amounted to a release of or compromise with John, which release or compromise might inure to the benefit of petitioner.”
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