New York Laws
Title 1 - Discharge of Joint Obligors
15-103 - Consideration to Be Credited to Co-Obligor.

§ 15-103. Consideration to be credited to co-obligor. The amount or
value of any consideration received by the obligee from one or more of
several obligors, or from one or more of joint, or of joint and several
obligors, in whole or in partial satisfaction of their obligations,
shall be credited to the extent of the amount received on the
obligations of all co-obligors to whom the obligor or obligors giving
the consideration did not stand in the relation of a surety.

Structure New York Laws