Delaware Code Title 18 Sec. 7705 – Estoppel of surety insurer to deny corporate power
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No insurer having signed any bond, undertaking or obligation as surety, guarantor or indemnitor shall be permitted to deny its corporate power to execute such instrument or incur such liability, in any proceeding to enforce liability against it thereunder.
18 Del. C. 1953, § ?7705; 56 Del. Laws, c. 460.;
Terms Used In Delaware Code Title 18 Sec. 7705
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.