Section 13-4-80. Release of another bound jointly or primarily or acceptance of higher security for same debt

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A release may result by operation of law. When a creditor releases another who is bound jointly with or primarily to a debtor or accepts from a debtor a higher security for the same debt, not intended to be collateral thereto, a release results by operation of law.

Orig. Code 1863, § 2803; Code 1868, § 2811; Code 1873, § 2862; Code 1882, § 2862; Civil Code 1895, § 3715; Civil Code 1910, § 4309; Code 1933, § 20-910.

                    
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