Liability of surety limited by express terms of contract--Penalty for breach.

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  2. South Dakota Codified Laws
  3. Guaranty, Suretyship and Indemnity
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  5. Liability of surety limited by express terms of contract--Penalty for breach.

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56-2-12. Liability of surety limited by express terms of contract--Penalty for breach.

A surety cannot be held beyond the express terms of his contract, and if such contract prescribes a penalty for its breach, he cannot in any case be liable for more than the penalty.

Source: SDC 1939, §26.0202.


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