Section 56-1-6 - Obligation which renders the party making the promise the principal debtor, and theperson in whose behalf it is made the surety--Writing unnecessary. - South-dakota Statutes

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56-1-6. Obligation which renders the party making the promise the principal debtor, and the person in whose behalf it is made the surety--Writing unnecessary. A promise to answer for the obligation of another is deemed an original obligation of the promiser and need not be in writing where the creditor parts with value or enters into an obligation, in consideration of the obligation in respect to which the promise is made, in terms or under circumstances such as to render the party making the promise the principal debtor, and the person in whose behalf it is made his surety.

Source: SDC 1939, § 26.0105 (2).

State Codes and Statutes

Statutes > South-dakota > Title-56 > Chapter-01 > Statute-56-1-6

56-1-6. Obligation which renders the party making the promise the principal debtor, and the person in whose behalf it is made the surety--Writing unnecessary. A promise to answer for the obligation of another is deemed an original obligation of the promiser and need not be in writing where the creditor parts with value or enters into an obligation, in consideration of the obligation in respect to which the promise is made, in terms or under circumstances such as to render the party making the promise the principal debtor, and the person in whose behalf it is made his surety.

Source: SDC 1939, § 26.0105 (2).

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-56 > Chapter-01 > Statute-56-1-6

56-1-6. Obligation which renders the party making the promise the principal debtor, and the person in whose behalf it is made the surety--Writing unnecessary. A promise to answer for the obligation of another is deemed an original obligation of the promiser and need not be in writing where the creditor parts with value or enters into an obligation, in consideration of the obligation in respect to which the promise is made, in terms or under circumstances such as to render the party making the promise the principal debtor, and the person in whose behalf it is made his surety.

Source: SDC 1939, § 26.0105 (2).