North Dakota Statutes
§ 22-01-03 — Original obligation sufficient consideration - Exception
North Dakota § 22-01-03
This text of North Dakota § 22-01-03 (Original obligation sufficient consideration - Exception) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.D. Cent. Code § 22-01-03 (2026).
Text
When a guaranty is entered into at the same time as the original obligation or at the same
time as the acceptance of the original obligation by the guarantee and forms, with that
obligation, a part of the consideration to the guarantee, no other consideration is necessary. In
all other cases there must be a consideration distinct from that of the original obligation.
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Related
Frontier Fiscal Services LLC v. Pinky's Aggregates, Inc.
2019 ND 147 (North Dakota Supreme Court, 2019)
American Federal Bank v. Grommesh
2021 ND 228 (North Dakota Supreme Court, 2021)
Nearby Sections
15
§ 22-01-01
Definitions§ 22-01-05
When a guaranty need not be in writing§ 22-01-06.2
Surety or guarantor may withdraw within ten days§ 22-01-06.3
When account furnished surety or guarantor§ 22-01-06.4
Surety or guarantor may withdraw at any time§ 22-01-06.5
Public policyCite This Page — Counsel Stack
Bluebook (online)
North Dakota § 22-01-03, Counsel Stack Legal Research, https://law.counselstack.com/statute/nd/22-01-03.