Virginia § 11-11 - Crediting contract; surety
Full text of Virginia Code of Virginia § 11-11 — Crediting contract; surety, with citation guidance and answers to common questions.
§ 11-11. Crediting contract; surety
When such compounding or compromise is made, the contract or obligation shall be credited with a full share of the party released, except where the compounding or compromise is with a surety or cosurety, and in that case, as between the creditor and principal, the credit shall be for the sum actually paid by the compounding debtor.
Code 1919, § 5764.
Frequently Asked Questions About Virginia § 11-11
What does Code of Virginia § 11-11 cover?
Section 11-11 ("Crediting contract; surety") is part of the Code of Virginia, the codified statutory law of Virginia. 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 Virginia § 11-11?
A common citation format is "Code of Virginia § 11-11" (Virginia). 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 Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 11-11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia 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 Virginia.