North Dakota Code 32-01-12 – Conditions of relief from forfeiture
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Whenever by the terms of an obligation a party thereto incurs a forfeiture, or a loss in the nature of a forfeiture, by reason of the party’s failure to comply with its provisions, the party may be relieved therefrom upon making full compensation to the other party, except in case of a grossly negligent, willful, or fraudulent breach of duty.
Terms Used In North Dakota Code 32-01-12
- 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.