[Rev. 11/21/2013 9:26:36 AM--2013]
NRS 101.010 Short title.
NRS 101.020 Terms defined.
NRS 101.030 Discharge of coobligor by judgment.
NRS 101.040 Payments credited to coobligors.
NRS 101.050 Release with reservation of rights.
NRS 101.060 Release without reservation of rights.
NRS 101.070 Death of joint obligor.
NRS 101.080 Chapter not retroactive.
NRS 101.090 Uniformity of interpretation.
[9:35:1927; NCL § 3708]
1. “Obligation” includes a liability in tort.
2. “Obligee” includes a person having a right based on a tort.
3. “Obligor” includes a person liable for a tort.
[1:35:1927; NCL § 3700]
NRS 101.030 Discharge of coobligor by judgment. A judgment against one or more of several obligors, or against one or more of joint, or of joint and several obligors, shall not discharge a coobligor who was not a party to the proceedings wherein the judgment was rendered.
[2:35:1927; NCL § 3701]
NRS 101.040 Payments credited to coobligors. The amount or value of any consideration received by the obligee from one or more of several obligors, or from one or more of joint, or of joint and several obligors, in whole or in partial satisfaction of their obligations, shall be credited to the extent of the amount received on the obligations of all coobligors to whom the obligor or obligors giving the consideration did not stand in the relation of a surety.
[3:35:1927; NCL § 3702]
NRS 101.050 Release with reservation of rights. Subject to the provisions of NRS 101.040, 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, shall not discharge coobligors, against whom the obligee in writing and as part of the same transaction as the release or discharge expressly reserves his or her rights; and in the absence of such a reservation of rights shall discharge coobligors only to the extent provided in NRS 101.060.
[4:35:1927; NCL § 3703]
1. If an obligee releasing or discharging an obligor without express reservation of rights against a coobligor, then knows or has reason to know that the obligor released or discharged did not pay so much of the claim as the obligor was bound by his or her contract or relation with that coobligor to pay, the obligee’s claim against that coobligor shall be satisfied to the amount which the obligee knew or had reason to know that the released or discharged obligor was bound to such coobligor to pay.
2. If an obligee so releasing or discharging an obligor has not then such knowledge or reason to know, the obligee’s claim against the coobligor shall be satisfied to the extent of the lesser of two amounts, namely, (1) the amount of the fractional share of the obligor released or discharged, or (2) the amount that such obligor was bound by his contract or relation with the coobligor to pay.
[5:35:1927; NCL § 3704]
[6:35:1927; NCL § 3705]
[7:35:1927; NCL § 3706]
[8:35:1927; NCL § 3707]