Sec. 3116.
(1) Except as otherwise provided in the instrument, 2 or more persons who have the same liability on an instrument as makers, drawers, acceptors, endorsers who endorse as joint payees, or anomalous endorsers are jointly and severally liable in the capacity in which they sign.
(2) Except as provided in section 3419(6) or by agreement of the affected parties, a party having joint and several liability who pay the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law.
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993 ;-- Am. 2014, Act 101, Imd. Eff. Apr. 10, 2014 Compiler's Notes: In subsection (2), “pay” evidently should read “pays.
Structure Michigan Compiled Laws
Chapter 440 - Uniform Commercial Code
Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)
Article 3 - Negotiable Instruments (440.3101...440.3805)
174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)
Section 440.3101 - Short Title; Article.
Section 440.3102 - Scope; Limitations; Conflict of Laws.
Section 440.3103 - Definitions; Principles of Construction.
Section 440.3104 - Additional Definitions.
Section 440.3106 - Unconditional Status of Promise or Order.
Section 440.3107 - Payment in Foreign Money.
Section 440.3108 - Instrument Payable on Demand, at Definite Time, or at Fixed Date.
Section 440.3111 - Place of Payment.
Section 440.3113 - Instrument Antedated, Postdated, or Undated.
Section 440.3114 - Instrument; Contradictory Terms.
Section 440.3115 - Incomplete Instrument; Definition; Enforcement; Alteration; Burden.
Section 440.3116 - Joint and Several Liability.
Section 440.3117 - Obligation Modified, Supplemented, or Nullified by Separate Agreement.
Section 440.3118 - Action to Enforce Obligation; Commencement; Time Period; Other Actions.
Section 440.3119 - Notice of Litigation to Answerable Third Party.
Section 440.3120-440.3122 - Repealed. 1993, Act 130, Eff. Sept. 30, 1993.