Laws of New York (Last Updated: November 21, 2014) |
GOB General Obligations |
Article 15. MODIFICATION AND DISCHARGE OF OBLIGATIONS |
Title 1. DISCHARGE OF JOINT OBLIGORS |
Section 15-107. Release of partner
Latest version.
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A release of a partner from a partnership liability shall release his co-partners from the same liability to the creditor giving the release, but after a partnership has been dissolved, by consent or otherwise, any partner may make a separate composition or compromise with any partnership creditor, and such composition or compromise shall discharge from such liability the partner making it, and him only.