In case one or more joint debtors are released, no one of the remaining debtors shall be liable for more than his proportionate share of the indebtedness, unless he is the principal debtor and the debtor released was his surety, in which case the principal debtor is liable for the whole of the remainder of the indebtedness.
Source: L. 1899: p. 239, § 2. R.S. 08: § 3606. C.L. § 5126. CSA: C. 92, § 6. CRS 53: § 76-1-3. C.R.S. 1963: § 76-1-3.
ANNOTATION
Release abrogates section's applicability. This section and §§ 13-50-101 and 13-50-102 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).
Remaining debtors are only liable for their proportionate share. A release of one or more joint debtors is held to be payment on the indebtedness of the full proportionate share of such debtor or debtors and further that none of the remaining debtors shall be liable for more than his proportionate share of indebtedness. Hosler v. Ireland, 219 F. 489 (8th Cir. 1915).
Release executed by plaintiff in favor of co-obligors reduces defendant's liability. Smith v. Weindrop, 833 P.2d 856 (Colo. App. 1992).
Release of some joint debtors extinguishes the obligation of any remaining joint debtors to pay so much of the debt as was deemed paid by the released joint debtors. Smith v. Weindrop, 833 P.2d 856 (Colo. App. 1992).
Where release of one of the debtors from liability in promissory note included liability for attorney fees, other debtors are each liable for their proportionate share of any liability for fees. A. Tenenbaum & Co., Inc. v. Colantuno, 3 P.3d 456 (Colo. App. 1999), aff'd, 23 P.3d 708 (Colo. 2001).
Proportionate shares should be determined by dividing the debt equally, per capita, among promissory note judgment debtors who were jointly liable for attorney fees prior to release of one of the debtors and, if a debtor pays more than his percentage share to satisfy the attorney fee indebtedness, the debtor may file an action for contribution against the other debtors. A. Tenenbaum & Co., Inc. v. Colantuno, 3 P.3d 456 (Colo. App. 1999), aff'd, 23 P.3d 708 (Colo. 2001).
Court erred in reducing doctor's liability to account for fault apportioned to the nurses by the jury. In light of "captain of the ship" doctrine, no evidence exists to qualify doctor and nurses as joint debtors. Ochoa v. Vered, 212 P.3d 963 (Colo. App. 2009).