Montana § 28-11-108 Continuing Guaranty -- Definition -- Revocation

Montana Statutes

§ 28-11-108 — Continuing Guaranty -- Definition -- Revocation

Montana·Title 28 CONTRACTS AND OTHER OBLIGATIONS·Ch. 11 GUARANTY, INDEMNITY, AND SURETYSHIP·Part 1 Guaranty -- General Provisions

28-11-108 . Continuing guaranty -- definition -- revocation.

(1)A guaranty relating to a future liability of the principal under successive transactions that either continue the principal's liability or from time to time renew it after it has been satisfied is called a continuing guaranty.

(2)A continuing guaranty may be revoked at any time by the guarantor in respect to future transactions unless there is a continuing consideration as to the transactions that the guarantor does not renounce.

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28-11-108 . Continuing guaranty -- definition -- revocation. (1) A guaranty relating to a future liability of the principal under successive transactions that either continue the principal's liability or from time to time renew it after it has been satisfied is called a continuing guaranty.
(2) A continuing guaranty may be revoked at any time by the guarantor in respect to future transactions unless there is a continuing consideration as to the transactions that the guarantor does not renounce.

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Legislative History

En. Secs. 3640, 3641, Civ. C. 1895; re-en. Secs. 5671, 5672, Rev. C. 1907; re-en. Secs. 8186, 8187, R.C.M. 1921; Cal. Civ. C. Secs. 2814, 2815; Field Civ. C. Secs. 1549, 1550; re-en. Secs. 8186, 8187, R.C.M. 1935; R.C.M. 1947, 30-206, 30-207; amd. Sec. 819, Ch. 56, L. 2009.