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CHAPTER 815
BUSINESS TRANSACTIONS
Actions to Enforce Payment Act.
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(815 ILCS 115/0.01) (from Ch. 17,
par. 605.9)
Sec. 0.01. Short title. This Act
may be cited as the Actions to Enforce Payment Act.
(Source: P.A. 86-1324.)
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(815 ILCS 115/2) (from Ch. 17,
par. 606)
Sec. 2. Persons severally liable
upon bills of exchange or promissory notes, payable in money,
may all or any of them severally be included in the same suit
at the option of the plaintiff, and judgment rendered in said
suit shall be without prejudice to the rights of the several
defendants as between themselves.
(Source: Laws 1895, p. 262.)
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(815 ILCS 115/3) (from Ch. 17,
par. 607)
Sec. 3. In any suit mentioned in
the preceding section a separate judgment may be entered by
default against any defendant or defendants severally liable
who have been duly served with summons, and against whom the
plaintiff would have been entitled to judgment had the suit
been against such defendant or defendants only. The suit shall
thereby be severed, and shall proceed to trial against the
other party or parties in the same manner as if it had been
commenced against such other party or parties only, and if
the plaintiff recover, judgment shall be entered against such
one or more of the defendants as are found liable to him, but
in no event shall the plaintiff be entitled to more than one
satisfaction.
(Source: Laws 1895, p. 262.)
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(815 ILCS 115/4) (from Ch. 17,
par. 608)
Sec. 4. Whenever the drawer or
endorser of an accepted bill of exchange or the endorser or
guarantor of a promissory note shall have been joined with
the acceptor of the bill or the maker of the note in an action
to enforce the collection thereof, and judgment has been entered
against such drawer, endorser or guarantor who thereafter pays
the same, the person so paying shall be entitled to have the
judgment released as to him, but the same shall, at his option,
stand and may be enforced under the order of the court against
any other party thereto who remains liable to the party paying
as upon the bill or note, for the reimbursement of the party
so paying. If there is any contest as to such liability the
court may order an issue to be made up between the contesting
parties, which shall be summarily determined as the court may
direct.
(Source: P.A. 84-546.)
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(815 ILCS 115/5) (from Ch. 17,
par. 609)
Sec. 5. In all suits on negotiable
instruments where any of the defendants are jointly liable,
and only one or more, but not all of them have been served
with summons, if the plaintiff recover, judgment shall be entered
in form against all the defendants so jointly liable, but so
far only as that it may be enforced against the joint property
of all and the separate property of the defendants served.
(Source: Laws 1895, p. 262.)
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(815 ILCS 115/6)
Sec. 6. Guarantor liability. When
a guarantor has agreed in writing that the guarantor is not
released by a judgement, settlement, release, or other discharge of indebtedness
of the primary obligor, other guarantor, or third party liable
on the indebtedness, then the judgment, settlement, release,
or other discharge of indebtedness of the primary obligor,
other guarantor, or third party liable on the indebtedness
shall not release or limit the claim on the indebtedness, or
cause the forfeiture, discharge, or extinction of the claim
on the indebtedness, against the guarantor, provided that the
plaintiff shall not be entitled to more than full satisfaction
of his, her, or its claim.
(Source: P.A. 90-321, eff.
8-1-97.)
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