Alabama Code 8-1-23. Obligation extinguished by new consideration or writing
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 8-1-23
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- writing: includes typewriting and printing on paper. See Alabama Code 1-1-1
An obligation is extinguished by a release therefrom given to the debtor by the creditor upon a new consideration or in writing with or without new consideration.