The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 3-116)
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§ 3—116. Joint and several liability; contribution
(a) 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.
(b) Except as provided in section 3—419(e) of this title 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.
(c) Discharge of one party having joint and several liability by a person entitled to
enforce the instrument does not affect the right under subsection (b) of a party having
the same joint and several liability to receive contribution from the party discharged. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)