§ 28-11-201 Obligation of guarantor not to exceed that of principal
§ 28-11-202 Liability under guaranty of incomplete contract
§ 28-11-203 Liability under guaranty of illegal contract or contract void against principal
§ 28-11-204 Liability under guaranty that obligation is good or collectible
§ 28-11-205 When guarantor of payment or performance becomes liable
§ 28-11-206 Liability upon guaranty of conditional obligation — notice of default
§ 28-11-211 When guarantor exonerated
§ 28-11-212 Rescission of alteration — liability not restored
§ 28-11-213 Guarantor not exonerated by delay of creditor
§ 28-11-214 Guarantor not exonerated by discharge of principal
§ 28-11-215 Exoneration of guarantor indemnified by principal
§ 28-11-216 Effect of part performance on guarantor’s liability
lawyer at desk

Ask a litigation question, get an answer ASAP!
Thousands of highly rated, verified litigation lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Montana Code > Title 28 > Chapter 11 > Part 2 - Guaranty -- Liability and Exoneration of Guarantor

  • 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
  • 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.
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Property: means real and personal property. See Montana Code 1-1-205
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
  • Usual: means according to usage. See Montana Code 1-1-206