The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1839-02-20
Laws of RhOde.Island.
STATE OF RHODE-ISLAND & PRoVI
DENCE PLANTATIONS.


DENCE PLANTATIONS.
In General assembly, Jan. Session, 1873!
BE it enacted by the General Assembly
as foilows:
AN ACT tor the relief Of Partners and
Joint Debtors.
Be ii enacted by The General Assembly as
toliows.
Sec. l. Whenever any copartnership
firm shall be dissolved BY mutual consent
or otherwise, il shall and may be lawful
for any one or more Of the individuals
who was or were embraced in such CO.
partnership frm, to make separate
composition or compromise with any one
or all of. .he creditors of such copartncr.
ship firm And such composition or com.
promise shall be full and efectual dis.
charge to the debtor making the same Of
the whole of said debt and be taken and
considered in reference to the other CO.
partners, as actual payments of such
debtors proportion Of the debt, whether
the full amount of his proportion of said
debt bo actually paid or not. And IN
case an amount exceeding his proportion
be actually paid, il shall be taken and
considered as payment OF the amount OF
debt actually paid.
Sec. 2. Every such debtor or dob;ors
making such composition or compro-
misc, shall take from the creditor or
creditors with whom he may make the
same, note of memorandum, in writing
exonorating him or them from all 81 eve
ry individual liability incurred by reason
orsuch conncxion with such coparIner-
ship firm which note Of memorandum
may be given in evidence by such debtor
or debtors under tho general issue, IN
bar of such creditors right of recovery
against him or them.
Sec. 3. Such compromise or compo.
sition shall not bo So construed as to dis
charge the other coparincrs, except as
provided in the first section of this act
nor shall 1t impair the right Of the credi-
tor to proceed at law or in equity, against
the members of such copartnership firm
as have not been discharged: and the |
member or members of such copartner-
ship firm so proceeded, against, shall be
permitted to set off any demand against
said creditor or creditors, which could
have bcon set Off had such suits been
against all ,he individuals composing
said firm nor shall sal compromise, or
discharge fan individual Of a firm. pre-
vent the other members Of such firm
avaling themselves Of any defence in law
or equity that would have been available,
had not this act been passed except that
they shall not set up tho discharge Of
one individual, as discharge of oil the
other copartnors, unless it shall appear
that all were intended to be discharged.
Sec. A. Such composition or compro.
mise sha Il in no wise effect the right ofthc
other copartncrs or any Of them, to call
on tlro individual making such compro.
misc. for any sum beyond said individuals
proportion Of said debt, if in consequence
ofihe insolvency, inability to pay, or alb.
sconding ofany ono Of said copartners,
such in individual so compromising should
become liable to pay more than his pro.
portion OF said debt, either in law or
equity.
Sec. s. The above provision in refer.
cncc to copariners of firm, shall extend
TO Joint debtors who are hereby author.
isod individually to compound orcompro.
mise for their joint indebtedness, with
the like effect to creditors and to joint
debtors of the individual so compromising, :
rs is above provided in reference TO CO.
partners. $
True copy: witness,
HENRY BOWEN, Sec'ry.