Montana Code 28-11-106. When notice of acceptance necessary to bind guarantor
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28-11-106. When notice of acceptance necessary to bind guarantor. A mere offer of guaranty is not binding until notice of its acceptance is communicated by the guarantee to the guarantor, but an absolute guaranty is binding upon the guarantor without notice of acceptance.
Terms Used In Montana Code 28-11-106
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC