New York GOB Code § 15-107

Release of partner
Open in Lexace · Ask the AI about this section
§ 15-107. Release of partner. A release of a partner from a\npartnership liability shall release his co-partners from the same\nliability to the creditor giving the release, but after a partnership\nhas been dissolved, by consent or otherwise, any partner may make a\nseparate composition or compromise with any partnership creditor, and\nsuch composition or compromise shall discharge from such liability the\npartner making it, and him only.\n

‹ Prev All New York sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.