North Dakota Code 22-01-10 – Guarantor of payment is liable upon default of principal – Demand or notice not required
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A guarantor of payment or performance is liable to the guarantee immediately upon the default of the principal and without a demand or notice.
Terms Used In North Dakota Code 22-01-10
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC