North Dakota Code 22-01-13 – Nonliability of guarantor on unlawful contract – Personal disability of principal
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A guarantor is not liable if the contract of the principal is unlawful, but the guarantor is liable notwithstanding any mere personal disability of the principal even though the disability is such as to make the contract void as against the principal.
Terms Used In North Dakota Code 22-01-13
- 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