North Dakota § 9-13-11 Rescinding acceptance

North Dakota Statutes

§ 9-13-11 — Rescinding acceptance

North Dakota·Title 9 Contracts and Obligations·Ch. 9-13 Release and Substitutions of Obligation

When the obligation of a third person or an order upon such person is accepted in satisfaction, the creditor may rescind such acceptance if:

1.The debtor prevents such person from complying with the order or from fulfilling the obligation;

2.At the time the obligation or order is received, such person is insolvent and this fact is unknown to the creditor; or

3.Before the creditor with reasonable diligence can present the order to the person upon whom it is given, that person becomes insolvent.

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When the obligation of a third person or an order upon such person is accepted in
satisfaction, the creditor may rescind such acceptance if:
1. The debtor prevents such person from complying with the order or from fulfilling the
obligation;
2. At the time the obligation or order is received, such person is insolvent and this fact is
unknown to the creditor; or

3. Before the creditor with reasonable diligence can present the order to the person upon
whom it is given, that person becomes insolvent.

North Dakota § 9-13-11 (Rescinding acceptance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.