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South Dakota Codified Laws

Chapter 56-1

S.D. Codified Laws ch. 56-1

Guaranty

56-1-1Guaranty defined.56-1-2Knowledge of principal unnecessary to creation of guaranty.56-1-3Consideration--When required.56-1-4Requirements as to writing--Signature of guarantor--Expression of consideration unnecessary.56-1-5Promise for consideration to answer for obligation of another--Writing unnecessary.56-1-6Obligation which renders the party making the promise the principal debtor, and the person in whose behalf it is made the surety--Writing unnecessary.56-1-7Promise for antecedent obligation of another--Writing unnecessary.56-1-8Undertaking by factor to sell merchandise and guarantee sale--Writing unnecessary.56-1-9Holder of instrument for the payment of money, upon which third person liable, transferring it in payment of precedent debt entering into a promise respecting such instrument--Writing unnecessary.56-1-10Acceptance of guaranty.56-1-11Guaranty of incomplete contract.56-1-12Guaranty that obligation is good or collectible.56-1-13Recovery upon guaranty that obligation is good or collectible.56-1-14Failure to take proceedings upon principal debt does not discharge guaranty of solvency.56-1-15Construction of guaranty--Unconditional in absence of terms importing condition precedent.56-1-16Liability of guarantor--Time of accrual--Default of principal--Demand or notice unnecessary.56-1-17Liability of guarantor of conditional obligation--Notice of default.56-1-18Obligations of guarantor--Scope and limitations.56-1-19Liability of guarantor--Contract of principal unlawful--Personal disability of principal.56-1-20Continuing guaranty defined.56-1-21Revocation of continuing guaranty--Exception.56-1-22Exoneration of guarantor--Alteration of original obligation of principal--Impairment of rights of creditors.56-1-23Void promises do not exonerate guarantor.56-1-24Liability of guarantor exonerated by agreement altering original obligation of debtor or impairing remedy of creditor not restored by rescission of such agreement.56-1-25Obligation of guarantor reduced by partial satisfaction of obligation.56-1-26Delay of creditors in enforcement of remedy--Guarantor not exonerated.56-1-27Liability of indemnified guarantor.56-1-28Discharge of principal by operation of law--Guarantor not exonerated.