Utah Code 15-4-4. Release of co-obligor — Reservation of rights
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Terms Used In Utah Code 15-4-4
- Obligee: includes a creditor and a person having a right based on a tort. See Utah Code 15-4-1
- Several obligors: means obligors severally bound for the same performance. See Utah Code 15-4-1
- Writing: includes :(48)(a) printing;(48)(b) handwriting; and(48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5
Subject to the provisions of Section 15-4-3, the obligee‘s release or discharge of one or more of several obligors, or of one or more of joint or of joint and several obligors, does not discharge co-obligors against whom the obligee in writing and as part of the same transaction as the release or discharge expressly reserves his rights; and in the absence of such a reservation of rights shall discharge co-obligors only to the extent provided in Section 15-4-5.