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PARTNERS AND JOINT DEBTORS; SETTLEMENTS OR COMPROMISES WITH CREDITORS
Act 181 of 1859
AN ACT to provide for settlement and compromises by partners and joint debtors with their creditor or creditors.
History: 1859, Act 181, Eff. May 18, 1859
© 2017 Legislative Council, State of Michigan
The People of the State of Michigan enact:
|Section 449.151||Section||Copartnerships; settlements with creditors; discharge of partner not party.
|Section 449.152||Section||Settlements with creditors; written discharge by creditors, bar to recovery.
|Section 449.153||Section||Settlements with creditors; rights against undischarged partners not impaired; right to set off and defense.
|Section 449.154||Section||Settlements with creditors; contribution between partners.
|Section 449.155||Section||Extension of act to joint debtors.