South Dakota Codified Laws 56-1-2. Knowledge of principal unnecessary to creation of guaranty
Current as of: 2023 | Check for updates
|
Other versions
A person may become guarantor even without the knowledge or consent of the principal.
Terms Used In South Dakota Codified Laws 56-1-2
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SDC 1939, § 26.0102.