§15-341. Partial satisfaction as reducing guarantor's obligation.
38 words·~1 min read·
/ok/title-15-contracts/15-341A 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 a principal, but does not otherwise affect it. R.L.1910, § 1046.