Colorado Code
Part 4 - Liability of Parties
§ 4-3-419. Instruments Signed for Accommodation

Source: L. 94: Entire article R&RE, p. 871, § 1, effective January 1, 1995.
Editor's note: This section is similar to former § 4-3-415 as it existed prior to 1994.





Former Article 3 was confusing because the obligation of a guarantor was covered both in Section 3-415 and in Section 3-416. The latter section suggested that a signature accompanied by words of guaranty created an obligation distinct from that of an accommodation party. Revised Article 3 eliminates that confusion by stating in Section 3-419 the obligation of a person who uses words of guaranty. Portions of former Section 3-416 are preserved. Former Section 3-416(2) is reflected in Section 3-419(d) and former Section 3-416(4) is reflected in Section 3-419(c).

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