Montana Code > Title 28 > Chapter 11 > Part 2 – Guaranty — Liability and Exoneration of Guarantor


§ 28-11-201	Obligation of guarantor not to exceed that of principal
§ 28-11-202	Liability under guaranty of incomplete contract
§ 28-11-203	Liability under guaranty of illegal contract or contract void against principal
§ 28-11-204	Liability under guaranty that obligation is good or collectible
§ 28-11-205	When guarantor of payment or performance becomes liable
§ 28-11-206	Liability upon guaranty of conditional obligation — notice of default
§ 28-11-211	When guarantor exonerated
§ 28-11-212	Rescission of alteration — liability not restored
§ 28-11-213	Guarantor not exonerated by delay of creditor
§ 28-11-214	Guarantor not exonerated by discharge of principal
§ 28-11-215	Exoneration of guarantor indemnified by principal
§ 28-11-216	Effect of part performance on guarantor’s liability

Contract: A legal written agreement that becomes binding when signed.
Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
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.
Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
Property: means real and personal property. See Montana Code 1-1-205
Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
Usual: means according to usage. See Montana Code 1-1-206