Montana Code 28-11-202. Liability under guaranty of incomplete contract
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28-11-202. Liability under guaranty of incomplete contract. In a guaranty of a contract the terms of which are not then settled, it is implied that the guaranty’s terms will not expose the guarantor to greater risks than the guarantor would incur under those terms that are most common in similar contracts at the place where the principal contract is to be performed.
Terms Used In Montana Code 28-11-202
- Contract: A legal written agreement that becomes binding when signed.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC