North Dakota Code 22-03-14 – Creditor entitled to security of debtor given to surety
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A creditor is entitled to the benefit of everything which a surety has received from the debtor by way of security for the performance of the obligation, and upon the maturity of the obligation the creditor may compel the application of such security to the satisfaction of the obligation.
Terms Used In North Dakota Code 22-03-14
- 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.