Liability of guarantor--Time of accrual--Default of principal--Demand or notice unnecessary.

  1. Law
  2. South Dakota Codified Laws
  3. Guaranty, Suretyship and Indemnity
  4. Guaranty
  5. Liability of guarantor--Time of accrual--Default of principal--Demand or notice unnecessary.

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56-1-16. Liability of guarantor--Time of accrual--Default of principal--Demand or notice unnecessary.

A guarantor of payment or performance is liable to the guarantee immediately upon the default of the principal and without demand or notice.

Source: SDC 1939, §26.0110.


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