Statutes > Georgia Statutes > TITLE 13 - CONTRACTS > CHAPTER 4 - MODIFICATION, EXTINGUISHMENT, AND RENEWAL > ARTICLE 5 - RELEASE > § 13-4-80 - Release of another bound jointly or primarily or acceptance of higher security for same debt

§ 13-4-80 - Release of another bound jointly or primarily or acceptance of higher security for same debt

O.C.G.A. 13-4-80 (2010)
13-4-80. Release of another bound jointly or primarily or acceptance of higher security for same debt


A release may result by operation of law. When a creditor releases another who is bound jointly with or primarily to a debtor or accepts from a debtor a higher security for the same debt, not intended to be collateral thereto, a release results by operation of law.