North Dakota Code 22-01-02 – Knowledge or consent of principal unnecessary to guaranty
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A person may become a guarantor without the knowledge or consent of the principal.
Terms Used In North Dakota Code 22-01-02
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49