(a) After exhausting the property of the principal, it shall be the duty of the officer to subject the property of the other parties in the order of their liability on the debt or contract.

Terms Used In Tennessee Code 26-3-106

  • Contract: A legal written agreement that becomes binding when signed.
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
(b) The party subsequently liable shall, if requested by the officers, show the property of the prior liable party to secure the benefit of this section.
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