§ 8.01-525.4 Provision to bar further claim by creditors who accept deed
Any deed of assignment may contain a provision to the effect that those creditors who accept such assignment do so in full satisfaction of their respective claims and shall be forever barred from further recovery of any balance.
History
This law was first created in 1924. The record of its establishment is cataloged at page 658 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1924 “Acts” aren’t available online. It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1942, when it was recodified as § 5278d; in 1950, when it was recodified as § 55-159; in 2019, chapter 712.
1924, p. 658; Michie Code 1942, § 5278d; Code 1950, § 55-159; 2019, c. 712.