Code of Virginia - Title 11 Contracts - Section 11-11 Crediting contract; surety

§ 11-11. Crediting contract; surety

When such compounding or compromise is made, the contract or obligation shall be credited with a full share of the party released, except where the compounding or compromise is with a surety or cosurety, and in that case, as between the creditor and principal, the credit shall be for the sum actually paid by the compounding debtor.

(Code 1919, § 5764.)

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Last modified: April 2, 2009