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68 chapters · 962 sections in this title.
Ala. Code § 8-3-1 Relationship of Joint Makers of Notes, Bills, Etc
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Joint makers of notes, bills, bonds, or contracts for the payment of money are bound severally and jointly to the payee, transferee, or holder, jointly and severally, for the full amount due; but as between themselves, each is principal to the extent of his share of the joint and…
Ala. Code § 8-3-10 Control of Judgment by Endorser Upon Payment of Debt
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(a) Every endorser who shall pay off and discharge the debt on which he is endorser, either pending the action or after judgment, whether the judgment be joint against the principal and all the endorsers or several against such, shall be entitled to control the judgment and execu…
Ala. Code § 8-3-11 Surety Paying Debt Subrogated to Rights of Creditor
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A surety who has paid the debt of his principal is subrogated to all the rights of the creditor and, in a controversy with other creditors, ranks in dignity the same as the creditor whose claim is paid. (Code 1907, §5394; Code 1923, §9553; Code 1940, T. 9, §87.)
Ala. Code § 8-3-12 When Surety Not to Confess Judgment
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No surety, when sued, can confess judgment or suffer judgment to pass by default if the principal debtor, on being notified of the pending action, is willing to defend the action at his own cost and give good and sufficient collateral security to the surety, to be approved by the…