11-10 - Compromise by creditor with co-obligor, etc. - Virginia Statutes

§ 11-10. Compromise by creditor with co-obligor, etc.

A creditor may compound or compromise with any joint contractor orco-obligor, and release him from all liability on his contract or obligation,without impairing the contract or obligation as to the other jointcontractors or co-obligors.

(Code 1919, § 5763.)