56-1-13. Recovery upon guaranty that obligation is good or collectible.
46 words·~1 min read·
/sd/title-56/chapter-56-1/56-1-13A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In the cases mentioned in § 56-1-12 , the removal of the principal from the state, leaving no property therein from which the obligation might be satisfied, is equivalent to the insolvency of the principal in its effect upon the rights and obligations of the guarantor.