Home/South Dakota/Statutes/Title 56: GUARANTY, SURETYSHIP AND INDEMNITY/Ch. 56-1: GUARANTY/§ 56-1-26
South Dakota Statutes

§ 56-1-26 — Delay of creditors in enforcement of remedy--Guarantor not exonerated.

South Dakota·Title 56 GUARANTY, SURETYSHIP AND INDEMNITY·Ch. 56-1 GUARANTY
Mere delay on the part of a creditor to proceed against the principal or to enforce any other remedy does not exonerate a guarantor.

Free access — add to your briefcase to read the full text and ask questions with AI

South Dakota § 56-1-26 (Delay of creditors in enforcement of remedy--Guarantor not exonerated.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related

Lane v. Travelers Indemnity Co.
1997 SD 58 (South Dakota Supreme Court, 1997)
6 case citations

Legislative History

SDC 1939, § 26.0120.

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.
View on official source ↗