PARTNERS AND JOINT DEBTORS; SETTLEMENTS OR COMPROMISES WITH CREDITORS (EXCERPT)
Act 181 of 1859
449.154 Settlements with creditors; contribution between partners.
Sec. 4.
Such settlement or compromise of 1 or more members of such firm or copartnership with a creditor of such firm or copartnership shall in no wise affect the right of the other partners to demand and recover from their copartners making such settlement or compromise their ratable portions of such firm or copartnership debt in the same manner and to the same extent as if this act had not been passed.
History: 1859, Act 181, Eff. May 18, 1859
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CL 1871, 6202
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How. 7786
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CL 1897, 10452
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CL 1915, 14584
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CL 1929, 9938
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CL 1948, 449.154
Rendered 8/17/2025 12:28 PM
Michigan Compiled Laws Complete Through PA 5 of 2025
Courtesy of legislature.mi.gov