431.150. Creditor may compound with one of several debtors--release--what sums. - Missouri Statutes

Creditor may compound with one of several debtors--release--what sums.

431.150. It shall be lawful for every creditor of two ormore debtors, joint or several, to compound with any and everyone or more of his debtors for such sum as he may see fit, and torelease him or them from all further liability to him for suchindebtedness, without impairing his right to demand and collectthe balance of such indebtedness from the other debtor or debtorsthereof, and not so released; provided, that no such releaseshall impair the right of any debtor of such indebtedness, not soreleased, to have contribution from his codebtors, as is by lawnow secured to him.

(RSMo 1939 § 3348)

Prior revisions: 1929 § 2961; 1919 § 2163; 1909 § 2777