North Dakota Code 13-01-02 – Debtor’s contract valid in absence of fraud
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In the absence of fraud, every contract of a debtor is valid against all of the debtor’s creditors, existing or subsequent, who have not acquired a lien on the property affected by the contract.
Terms Used In North Dakota Code 13-01-02
- Contract: A legal written agreement that becomes binding when signed.
- Fraud: Intentional deception resulting in injury to another.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes property, real and personal. See North Dakota Code 1-01-49