The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1857-06-04
April 9, 1851.
AN ACT

No 1871 AN ACT
| For the relief Of Partners and Joint Debtors.
SEQ l. Be it enacted by the General Assembly
Of the State Of Ohio, That whenever any copsrt-
nership firm sh all be dissolved by mutual consent
or otherwise, 1t shall and may be lawful for any
one or more of the individuals who was OF were
embraced in such copartDership firm, to make a
separate composition or compromise with any one
or sll Of the creditors Of such copartnership firm
and such composition or compromise shall be q
full and effectual discharge to the debtor debt.
ors making the same, and to them only, of and
from all and every liability to the creditor or cred
| itors with whom the same is made or incurred by
reason Of his or their connection with such CO
partnership firm, according TO the terms Of such
| compromise.
| Sec. g. Every such debtor or debtors making
such composition compromise, may take from
| the creditor creditors with whom he may make
| the same, a note or memorandum in writing, ex
onerating him or them from all and every individ
ual liability incurred By OF such connection
with such copartnership firm; which note or mew-
orandum may be given in evidence by such de'tor
or debtors in bar Of such creditors right OF re-
covery against him or them; aud il such liability
shall be by judgment in any court of record in
this State, then production to and filing with
the Gle * of such court the said note memoran-
dun in writing. such clerk shall discharge such
judgment Of record so far as the said comprom.
sing debtor or debtors shall be concerned.
Sec. 3. Such compromise or composition with
an individual member of firm, shall not be so
-
nor shall it impair the right of the creditor to
proceed against the members of such cOpartner-
ship firm as have not been discharged. And the
member or members of such cspartnership firm so
proceeded against. shall he permitted to set off
any demand against said creditor or creditors
which could have been set off had such suit been
brought against all the individuals composing
such firm nor shall such compromise or discharge
of an individual of firm prevent the other mem
bes of such firm from availing themselves of any
defence that would have been available had not
this act been passed, except that they shall not
set up the discharge Of one individual as dis.
charge of the other OOpartners, unless shall ap-
pear that all were intended TO be discharged Pre-
vd d. thUt the discharge of any such copartner,
shall be deemed payment to the creditor equal
to the praporiionate interest of the partner dis
charged in the partnership concern.
SIC. 4 That such compromise or comp 1sition |
of an indig idual of firm with q creditor OF such
firm shall in no wise effect the right of the other
copartners to call on the individual making such
for his raeable portion of such co.
debt, the same as if this law had not
been passed.
Sec 3. The above provisions in r ference to co-
partners of firm, shall extend to Joint debtors,
who are hereby Authorized individually to COM
pound or compro Mise for their jpnt ind -btedne--
with the like effect in reference to creditors and t.
Joint deb ors Of the individual so compromising
as is above provided in reference to cOpartners.
See 6 This act shall take effect immediately
on its passage.
Speaker OF the House Of Representatives.
THOMAS II. FORD.
President of the Senate.