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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
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.