                                 CODE OF VIRGINIA

JOINT AND SEVERAL LIABILITY; CONTRIBUTION (§ 8.3A-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, endorsers who
endorse as joint payees, or anomalous endorsers are jointly and severally liable
in the capacity in which they sign.

b. Except as provided in &#xA7; 8.3A-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.

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.

HISTORY: Code 1950, § 6-393; 1964, c. 219, § 8.3-118; 1992, c. 693.