Vermont § 116 - § 3—116.
Full text of Vermont Vermont Statutes Online § 116 — § 3—116., with citation guidance and answers to common questions.
§ 116. § 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) of this title 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 a party having
the same joint and several liability to receive contribution from the party discharged. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
Frequently Asked Questions About Vermont § 116
What does Vermont Statutes Online § 116 cover?
Section 116 ("§ 3—116.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 116?
A common citation format is "Vermont Statutes Online § 116" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 116 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.