Legislator Case Law & Legislation
DE FR IT EN
Analyze in Legislator
KKO 1172/2006 AI generated

Supreme Court holds that a bill of exchange debtor's discharge from liability does not automatically release a co-debtor from liability.

Case Number KKO 1172/2006
Court / Authority
Jurisdiction Finland (FI)
Decision Date
Outcome Allowed / Granted
Open official source Machine-readable Markdown (.md)

Legislator summary

AI generated

The Supreme Court ruled that the discharge of one bill of exchange debtor from liability does not automatically release a co-debtor from their remaining obligation. The creditor argued that since the debt had expired against one party, the other should also be exempt, but the court rejected this view. The court decided that the statutory discharge of one debtor does not extend to the other, preserving the creditor's right to pursue the remaining liable party.

Legislator headnote

AI generated

s. 10 of the Bills of Exchange Act 1871; s. 10 of the Bills of Exchange Act 1871: The discharge of one joint debtor from liability does not automatically release the other joint debtor from their statutory obligation.

Keywords

AI generated
bill of exchange joint debtor liability statutory discharge co-debtor exemption creditor rights supreme court ruling financial law

Cited Legislation

AI generated
s. 10 of the Bills of Exchange Act 1871

Cited Case Law

AI generated
KKO:2006:43
Supreme Court allows partial enforcement of joint debt judgment where one debtor's claim prescribes, rejecting application of general prescription rules to negotiable instruments.
AI generated
kko-precedent_2005_51
Supreme Court allows modification of co-owner's debt plan to sell property share after other co-owner's plan fails.
kko-precedent_2003_112
Supreme Court dismisses appeal; dual recovery orders for same debt do not justify setting aside prior judgment.
kko-precedent_2006_43
Supreme Court allows partial enforcement of joint debt judgment where one debtor's claim prescribes, rejecting application of general prescription rules to negotiable instruments.
kko-other_2006_1171
Supreme Court allows creditor's appeal to hold joint debtor liable for full debt despite partial expiration.
kko-precedent_1994_135
Supreme Court held that a co-guarantor's liability remains full if the creditor releases another guarantor based on a prior agreement with the releasing guarantor.

Need to analyze how this precedent applies to your matter?

Cross-reference this judgment against statutes, commentaries, and subsequent citing case law inside Legislator AI.

Open in Legislator →

Full text

A ja B Oy oli kumpikin eri maksamismääräyksellä velvoitettu maksamaan sama vekselisaatava. Ulosottomies oli A:ta vastaan haetussa ulosotossa katsonut, että A vastasi enää saatavan puolesta määrästä, koska saatava oli sittemmin maksamismääräysten antamisen jälkeen vanhentunut B Oy:n osalta. Kysymys vekselivelallisen velkavastuusta vapautumisen vaikutuksesta toisen vekselivelallisen vastuuseen. Ks. KKO:2006:43