North Dakota Code 9-13-01 – Extinction of obligation by release
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An obligation is extinguished by a release therefrom given to the debtor by the creditor upon a new consideration, or if the release is in writing, with or without a new consideration.
Terms Used In North Dakota Code 9-13-01
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.