Joint makers of notes, bills, bonds, or contracts for the payment of money are bound severally and jointly to the payee, transferee, or holder, jointly and severally, for the full amount due; but as between themselves, each is principal to the extent of his share of the joint and several debt and surety to the extent of the shares of the other makers.
Structure Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Article 1 - General Provisions.
Section 8-3-1 - Relationship of Joint Makers of Notes, Bills, Etc.
Section 8-3-2 - Rights of Surety Who Has Paid Debt.
Section 8-3-3 - Remedies Given Sureties Not Exclusive.
Section 8-3-4 - Tender by Surety Discharges Surety.
Section 8-3-5 - Rights of Surety Against Principal Upon Payment of Debt.
Section 8-3-6 - Suretyship May Be Proved by Parol.
Section 8-3-7 - Rights of Surety Sued Separately and Paying Judgment.
Section 8-3-8 - Payments by Surety Pending Action.
Section 8-3-9 - Contribution by Cosureties.
Section 8-3-10 - Control of Judgment by Endorser Upon Payment of Debt.
Section 8-3-11 - Surety Paying Debt Subrogated to Rights of Creditor.
Section 8-3-12 - When Surety Not to Confess Judgment.
Section 8-3-14 - Provisions of Chapter Inure to Benefit of Personal Representatives.