N.D. Cent. Code § 22-01-01

Current through 2023 Legislative Sessions

Section 22-01-01 - Definitions

In this chapter, unless the context or subject matter otherwise requires:

1. A "continuing guaranty" means a guaranty relating to a future liability of the principal under successive transactions which either continue the liability or from time to time renew it after it has been satisfied.

2. A "guaranty" means a promise to answer for the debt, default, or miscarriage of another person.

N.D.C.C. § 22-01-01