28-11-317. When judgment not conclusive against person indemnifying
28-11-317. When judgment not conclusive against person indemnifying. (1) If the person indemnifying, whether the person is a principal or a surety in the agreement, does not have reasonable notice of the action or proceeding against the person indemnified or is not allowed to control the person indemnified’s defense, judgment against the person indemnified is only […]
28-11-401. Surety defined
28-11-401. Surety defined. A surety is one who, at the request of another person and for the purpose of securing to the other person a benefit, becomes responsible for the performance by the other person of some act in favor of a third person or pledges property as security for the performance. History: En. Sec. 3670, Civ. […]
28-11-402. When apparent principal may show surety
28-11-402. When apparent principal may show surety. A person who appears to be a principal, whether by the terms of a written instrument or otherwise, may show that the person is in fact a surety except as against persons who have acted on the faith of the person’s apparent character of principal. History: En. Sec. 3671, Civ. […]
28-11-403. Interpretation of contract of suretyship
28-11-403. Interpretation of contract of suretyship. In interpreting the terms of a contract of suretyship, the same rules are to be observed as in the case of other contracts. History: En. Sec. 3681, Civ. C. 1895; re-en. Sec. 5683, Rev. C. 1907; re-en. Sec. 8198, R.C.M. 1921; Cal. Civ. C. Sec. 2837; Field Civ. C. Sec. 1561; […]
28-11-404. Suretyship unaffected by judgment against surety
28-11-404. Suretyship unaffected by judgment against surety. Notwithstanding the recovery of judgment by a creditor against a surety, the latter still occupies the relation of surety. History: En. Sec. 3682, Civ. C. 1895; re-en. Sec. 5684, Rev. C. 1907; re-en. Sec. 8199, R.C.M. 1921; Cal. Civ. C. Sec. 2838; Field Civ. C. Sec. 1562; re-en. Sec. 8199, […]
28-11-405. through 28-11-410 reserved
28-11-405 through 28-11-410 reserved.
28-11-411. Extent of surety’s liability
28-11-411. Extent of surety’s liability. A surety cannot be held beyond the express terms of the surety’s contract, and if the contract prescribes a penalty for breach, the surety cannot in any case be liable for more than the penalty. History: En. Sec. 3680, Civ. C. 1895; re-en. Sec. 5682, Rev. C. 1907; re-en. Sec. 8197, R.C.M. […]
28-11-412. Exoneration of surety
28-11-412. Exoneration of surety. A surety is exonerated: (1) in like manner with a guarantor; (2) to the extent to which the surety is prejudiced by any act of the creditor that would naturally prove injurious to the remedies of the surety or inconsistent with the surety’s rights or that lessens the surety’s security; or (3) to the extent […]
28-11-314. When and what person indemnified entitled to recover
28-11-314. When and what person indemnified entitled to recover. (1) Upon an indemnity against liability, expressly or in other equivalent terms, the person indemnified is entitled to recover upon becoming liable. (2) Upon an indemnity against claims, demands, damages, or costs, expressly or in other equivalent terms, the person indemnified is not entitled to recover without payment […]
28-11-301. Indemnity defined
28-11-301. Indemnity defined. Indemnity is a contract by which one engages to save another from a legal consequence of the conduct of one of the parties or of some other person. History: En. Sec. 3580, Civ. C. 1895; re-en. Sec. 5648, Rev. C. 1907; re-en. Sec. 8163, R.C.M. 1921; Cal. Civ. C. Sec. 2772; Field Civ. C. […]