All joint obligations and covenants shall be taken and held to be joint and several obligations and covenants.
Source: R.S. p. 368, § 3. G.L. § 1408. G.S. § 1834. R.S. 08: § 3604. C.L. § 5124. CSA: C. 92, § 4. CRS 53: § 76-1-1. C.R.S. 1963: § 76-1-1.
ANNOTATION
Law reviews. For note, "A Survey of the Colorado Torrens Act", see 5 Rocky Mt. L. Rev. 149 (1933). For article, "Duties and Rights Under Joint and Several Contracts in Colorado", see 7 Rocky Mt. L. Rev. 247 (1935). For article, "A Decade of Colorado Law: Conflict of Laws, Security, Contracts and Equity", see 23 Rocky Mt. L. Rev. 247 (1951). For article, "One Year Review of Contracts", see 34 Dicta 85 (1957).
Release abrogates section's applicability. This section and §§ 13-50-102 and 13-50-103 did not apply where the defendant guarantors expressly agreed that the release of coguarantors would not affect defendants' liability in any way. United States v. Immordino, 386 F. Supp. 611 (D. Colo. 1974), aff'd, 534 F.2d 1378 (10th Cir. 1976).
Joint agreements are several, and suit may be brought against any of the parties liable or against all of them. Bennett v. Morse. 6 Colo. App. 122, 39 P. 582 (1894).
Under which the liability of the parties is joint and several. Where a contract provided that, in consideration of a certain sum of money having been paid to one of the parties of the first part, the parties of the first part would pay the same to the party of the second part if such sum were not paid by a third party within a specified time, such obligation of the parties of the first part is joint and several within this section. Doyle v. Nesting, 37 Colo. 522, 88 P. 862 (1906).
Under this section "obligation" means a written contract. Whenever the word "obligation" is used in a statute as the name of a contract (as in this section), an agreement in writing is meant; but where it is used with reference to a legal duty or liability, the term includes any indebtedness arising from contract, express or implied, oral or written. Exch. Bank v. Ford, 7 Colo. 314, 3 P. 449 (1884); Sawyer v. Armstrong, 23 Colo. 287, 47 P. 391 (1896).
This section has no application to oral contracts. Townsend v. Heath, 106 Colo. 273, 103 P.2d 691 (1940).
The liability upon a promissory note is clearly rendered several by this section. Exch. Bank v. Ford, 7 Colo. 314, 3 P. 449 (1884); Hochmark v. Richler, 16 Colo. 263, 26 P. 818 (1891).
For the applicability of this section to negotiable instruments, see Hamill v. Ward, 14 Colo. 277, 23 P. 330 (1890); Tabor v. Miles, 5 Colo. App. 127, 38 P. 64 (1894).
Partnership contracts are excluded from this section. Doubt is cast upon the applicability of this statute to partnership contracts; and whatever may be said of our previous decisions, their effect certainly is to exclude partnership contracts from the provisions of this section. Thompson v. White, 25 Colo. 226, 54 P. 718 (1898).
Equitable doctrine that partnership debts are joint and several does not obtain in a purely legal action. Exch. Bank v. Ford, 7 Colo. 314, 3 P. 449 (1884).
Satisfaction must be pleaded to release joint debtor. Plea that contract is joint and several, and that plaintiff has already recovered judgment but not alleging satisfaction, is insufficient. Fitzgerald v. Burke, 14 Colo. 559, 23 P. 993 (1890).