South Dakota Codified Laws 56-1-28. Discharge of principal by operation of law–Guarantor not exonerated
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A guarantor is not exonerated by the discharge of his principal by operation of law without the intervention or omission of the creditor.
Terms Used In South Dakota Codified Laws 56-1-28
- 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, § 26.0122.