New Jersey § 12a:3-116
Full text of New Jersey New Jersey Statutes § 12a:3-116, with citation guidance and answers to common questions.
§ 12a:3-116.
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 subsection e. of 12A:3-419 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. Discharge of one party having joint and several liability by a person entitled
to enforce the instrument does not affect the right under subsection b. of this section
of a party having the same joint and several liability to receive contribution from
the party discharged.
Frequently Asked Questions About New Jersey § 12a:3-116
What does New Jersey Statutes § 12a:3-116 cover?
Section 12a:3-116 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 12a:3-116?
A common citation format is "New Jersey Statutes § 12a:3-116" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 12a:3-116 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.