South Dakota Codified Laws 56-1-10. Acceptance of guaranty
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A mere offer to guarantee is not binding until notice of its acceptance is communicated by the guarantee to the guarantor, but an absolute guaranty is binding upon the guarantor without notice of acceptance.
Terms Used In South Dakota Codified Laws 56-1-10
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
Source: SDC 1939, § 26.0106.