22-01-18. Reduction of obligation by partial performance.
35 words·~1 min read·
/nd/title-22/chapter-22-01-guaranty/22-01-18·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The acceptance by a creditor of anything in partial satisfaction of an obligation reduces the obligation of a guarantor thereof in the same measure as that of the principal, but does not otherwise affect it.