Home/South Dakota/Statutes/Title 56: GUARANTY, SURETYSHIP AND INDEMNITY/Ch. 56-3: INDEMNITY/§ 56-3-1
South Dakota Statutes

§ 56-3-1 — Indemnity defined.

South Dakota § 56-3-1
JurisdictionSouth Dakota
Title 56GUARANTY, SURETYSHIP AND INDEMNITY
Ch. 56-3INDEMNITY

This text of South Dakota § 56-3-1 (Indemnity defined.) 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 § 56-3-1 (2026).

Text

Indemnity is a contract by which one engages to save another from a legal consequence of the conduct of one of the parties, or of some other person.

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Related

First Dakota National Bank v. BancInsure, Inc.
2014 SD 57 (South Dakota Supreme Court, 2014)
4 case citations

Legislative History

SDC 1939, § 31.3101; repealed SL 1966, ch 111, § 5; re-enacted SL 1967, ch 235, § 1.

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 § 56-3-1, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/56-3-1.