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 […]
28-11-315. Costs of defense
28-11-315. Costs of defense. An indemnity against claims, demands, or liability, expressly or in other equivalent terms, embraces the costs of defense against such claims, demands, or liability incurred in good faith and in the exercise of a reasonable discretion. History: En. Sec. 3586, Civ. C. 1895; re-en. Sec. 5654, Rev. C. 1907; re-en. Sec. 8169, R.C.M. […]
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. […]
28-11-302. Indemnity for future unlawful act void
28-11-302. Indemnity for future unlawful act void. An agreement to indemnify a person against an act thereafter to be done is void if the act be known by such person, at the time of doing it, to be unlawful. History: En. Sec. 3581, Civ. C. 1895; re-en. Sec. 5649, Rev. C. 1907; re-en. Sec. 8164, R.C.M. 1921; […]