Sec. 3.116. JOINT AND SEVERAL LIABILITY; CONTRIBUTION. (a) Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who indorse as joint payees, or anomalous indorsers are jointly and severally liable in the capacity in which they sign.
(b) Except as provided in Section 3.419(e) or by agreement of the affected parties, a party having joint and several liability who pays the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law.
(c) Repealed by Acts 2005, 79th Leg., Ch. 95, Sec. 21, eff. September 1, 2005.
Amended by Acts 1995, 74th Leg., ch. 921, Sec. 1, eff. Jan. 1, 1996.
Amended by:
Acts 2005, 79th Leg., Ch. 95 (S.B. 1563), Sec. 21, eff. September 1, 2005.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 3 - Negotiable Instruments
Subchapter A. General Provisions and Definitions
Section 3.104. Negotiable Instrument
Section 3.105. Issue of Instrument
Section 3.106. Unconditional Promise or Order
Section 3.107. Instrument Payable in Foreign Money
Section 3.108. Payable on Demand or at Definite Time
Section 3.109. Payable to Bearer or to Order
Section 3.110. Identification of Person to Whom Instrument Is Payable
Section 3.111. Place of Payment
Section 3.113. Date of Instrument
Section 3.114. Contradictory Terms of Instrument
Section 3.115. Incomplete Instrument
Section 3.116. Joint and Several Liability; Contribution
Section 3.117. Other Agreements Affecting Instrument