Florida Statutes 46.041 – Joinder of certain makers, endorsers, etc., of negotiable instruments
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 46.041
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Plaintiff: The person who files the complaint in a civil lawsuit.
(1) The makers of negotiable instruments and all other persons who, at or before the execution and delivery thereof, endorsed, guaranteed, or became surety for payment thereof, or are otherwise secondarily liable for payment, may be sued in the same action.
(2) In such action the final judgment shall specify the defendants who are liable for payment only as endorser, surety, guarantor or otherwise secondarily.
(3) When a final judgment authorized by this section is paid by one or more defendants who are liable only as endorser, surety, guarantor, or otherwise secondarily, the holder of such judgment shall, on request, assign such judgment to the defendants paying it. Such defendants are entitled to all the rights and remedies of the original plaintiff to enforce collection from the other defendants who are liable.