South Dakota Codified Laws 56-1-26. Delay of creditors in enforcement of remedy–Guarantor not exonerated
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Mere delay on the part of a creditor to proceed against the principal or to enforce any other remedy does not exonerate a guarantor.
Terms Used In South Dakota Codified Laws 56-1-26
- 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, § 26.0120.