Guaranty that obligation is good or collectible.

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  2. South Dakota Codified Laws
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  5. Guaranty that obligation is good or collectible.

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56-1-12. Guaranty that obligation is good or collectible.

A guaranty to the effect that an obligation is good or is collectible imports that the debtor is solvent and that the demand is collectible by the usual legal proceedings, if taken with reasonable diligence.

Source: SDC 1939, §26.0108.


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