South Dakota Statutes

§ 56-1-10 — Acceptance of guaranty.

South Dakota § 56-1-10

JurisdictionSouth Dakota

Title 56GUARANTY, SURETYSHIP AND INDEMNITY

Ch. 56-1GUARANTY

This text of South Dakota § 56-1-10 (Acceptance of guaranty.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 56-1-10 (2026).

Text

A mere offer to guarantee is not binding until notice of its acceptance is communicated by the guarantee to the guarantor, but an absolute guaranty is binding upon the guarantor without notice of acceptance.

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Related

American Prairie Construction Co. v. Tri-State Financial, LLC

529 F. Supp. 2d 1061 (D. South Dakota, 2007)

2 case citations

Legislative History

SDC 1939, § 26.0106.

Nearby Sections

15

§ 56-1-1

Guaranty defined.

§ 56-1-10

Acceptance of guaranty.

§ 56-1-11

Guaranty of incomplete contract.

§ 56-1-12

Guaranty that obligation is good or collectible.

§ 56-1-13

Recovery upon guaranty that obligation is good or collectible.

§ 56-1-14

Failure to take proceedings upon principal debt does not discharge guaranty of solvency.

§ 56-1-15

Construction of guaranty--Unconditional in absence of terms importing condition precedent.

§ 56-1-16

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

§ 56-1-17

Liability of guarantor of conditional obligation--Notice of default.

§ 56-1-18

Obligations of guarantor--Scope and limitations.

§ 56-1-19

Liability of guarantor--Contract of principal unlawful--Personal disability of principal.

§ 56-1-2

Knowledge of principal unnecessary to creation of guaranty.

§ 56-1-20

Continuing guaranty defined.

§ 56-1-21

Revocation of continuing guaranty--Exception.

§ 56-1-22

Exoneration of guarantor--Alteration of original obligation of principal--Impairment of rights of creditors.

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Bluebook (online)

South Dakota § 56-1-10, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/56-1-10.