Mike Morrell
- Republican
Author
Under existing law, an obligation is a legal duty to do or not to do a certain thing and an obligation may be extinguished in various ways. An obligation is extinguished if a creditor releases a debtor from the obligation either upon new consideration or in writing, with or without new consideration. Under existing law, a general release from an obligation does not apply to claims that the creditor does not know or suspect to exist in his or her favor, as specified, and that would have materially affected his or her settlement with the debtor. This bill would clarify that the terms "creditor" and "debtor" as used in the above provisions include "releasing party" and "released party," respectively. This bill would state that its changes are declaratory of existing law.
Chaptered by Secretary of State. Chapter 157, Statutes of 2018.
Approved by the Governor.
Enrolled and presented to the Governor at 3:30 p.m.
Assembly amendments concurred in. (Ayes 37. Noes 0. Page 5026.) Ordered to engrossing and enrolling.
Read third time. Passed. (Ayes 75. Noes 0. Page 5933.) Ordered to the Senate.
In Senate. Concurrence in Assembly amendments pending.
Read second time. Ordered to consent calendar.
Read second time and amended. Ordered to second reading.
From committee: Do pass as amended. Ordered to consent calendar. (Ayes 9. Noes 0.) (June 12).
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 38. Noes 0. Page 5088.) Ordered to the Assembly.
Read second time. Ordered to consent calendar.
From committee: Do pass. Ordered to consent calendar. (Ayes 7. Noes 0. Page 4998.) (May 8).
Set for hearing May 8.
From printer. May be acted upon on or after March 22.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB1431 | HTML |
| 02/16/18 - Introduced | |
| 06/14/18 - Amended Assembly | |
| 07/05/18 - Enrolled | |
| 07/20/18 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
Data on Open States is updated periodically throughout the day from the official website of the California State Legislature.
If you notice any inconsistencies with these official sources, feel free to file an issue.