673.1161 Joint and several liability; contribution.—
(1) Except as otherwise provided in the instrument, two 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.
(2) Except as provided in s. 673.4191(5) 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.
(3) Discharge of one party having joint and several liability by a person entitled to enforce the instrument does not affect the right under subsection (2) of a party having the same joint and several liability to receive contribution from the party discharged.
History.—s. 2, ch. 92-82.
Section: Previous 673.1061 673.1071 673.1081 673.1091 673.1101 673.1111 673.1121 673.1131 673.1141 673.1151 673.1161 673.1171 673.1181 673.1191 NextLast modified: September 23, 2016