§ 7-12-8. Memorandum exonerating partner on separate composition.
Every debtor making a composition or compromise takes from the creditor with whom he or she may make the composition or compromise a note or memorandum in writing, exonerating him or her from all individual liability incurred by reason of the connection with the copartnership. The note or memorandum may be given in evidence by the debtor under the general issue, in bar of the creditor's right of recovery against him or her.
(G.L. 1896, ch. 156, § 4; G.L. 1909, ch. 185, § 4; G.L. 1923, ch. 212, § 4; G.L. 1938, ch. 428, § 4; G.L. 1956, § 7-12-8.)