22-01-07. Guaranty of contract the terms of which are unsettled - Interpretation.
58 words·~1 min read·
/nd/title-22/chapter-22-01-guaranty/22-01-07·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In a guaranty of a contract the terms of which are not then settled, it is implied that its terms shall be such as will not expose the guarantor to greater risks than the guarantor would incur under those terms which are most common in similar contracts at the place where the principal contract is to be performed.