Montana Code 28-11-108. Continuing guaranty — definition — revocation
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28-11-108. Continuing guaranty — definition — revocation. (1) A guaranty relating to a future liability of the principal under successive transactions that either continue the principal’s liability or from time to time renew it after it has been satisfied is called a continuing guaranty.
Terms Used In Montana Code 28-11-108
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
(2)A continuing guaranty may be revoked at any time by the guarantor in respect to future transactions unless there is a continuing consideration as to the transactions that the guarantor does not renounce.