North Dakota Code 22-01-21 – Discharge of principal by operation of law does not constitute exoneration
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A guarantor is not exonerated by the discharge of the guarantor’s principal by operation of law without the intervention or omission of the creditor.
Terms Used In North Dakota Code 22-01-21
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC