Arkansas § 4-3-116 - Joint and several liability — Contribution.
Full text of Arkansas Arkansas Code of 1987 Annotated § 4-3-116 — Joint and several liability — Contribution., with citation guidance and answers to common questions.
§ 4-3-116. Joint and several liability — Contribution.
Except as otherwise provided in the instrument, two (2) 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. Except as provided in § 4-3-419(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. [Repealed.]
Frequently Asked Questions About Arkansas § 4-3-116
What does Arkansas Code of 1987 Annotated § 4-3-116 cover?
Section 4-3-116 ("Joint and several liability — Contribution.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 4-3-116?
A common citation format is "Arkansas Code of 1987 Annotated § 4-3-116" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 4-3-116 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.