Section 56-3-9 – Indemnity against claims, demands or damages–Recovery by person indemnified, payment required.
56-3-9. Indemnity against claims, demands or damages–Recovery by person indemnified, payment required. Upon an indemnity against claims or demands, or damages or costs expressly, or in equivalent terms, unless a contrary intention appears, the person indemnified is not entitled to recover without payment thereof. Source: SDC 1939, §31.3107 (2); repealed SL 1966, ch 111, §5; […]
Section 56-3-10 – Indemnity against claims, demands or liability–Matters embraced in contract.
56-3-10. Indemnity against claims, demands or liability–Matters embraced in contract. Unless a contrary intention appears, an indemnity against claims or 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 reasonable discretion. Source: SDC 1939, §31.3107 […]
Section 56-3-11 – Defense by indemnitor of actions against indemnified–Right of person indemnified to conduct defense.
56-3-11. Defense by indemnitor of actions against indemnified–Right of person indemnified to conduct defense. Unless a contrary intention appears, the person indemnifying is bound, on request of the person indemnified, to defend actions or proceedings brought against the latter in respect to the matters embraced by the indemnity; but the person indemnified has the right […]
Section 56-3-2 – Indemnity for a future wrongful act void.
56-3-2. Indemnity for a future wrongful 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. This section shall only apply to an unlawful act that involves moral turpitude. Source: SDC […]
Section 56-3-3 – Indemnity for past wrongful act valid.
56-3-3. Indemnity for past wrongful act valid. An agreement to indemnify a person against an act already done is valid, even though the act was known to be wrongful, unless it was a felony. Source: SDC 1939, §31.3103; repealed SL 1966, ch 111, §5; re-enacted SL 1967, ch 235, §3.
Section 56-3-4 – Indemnity extends to acts of agents.
56-3-4. Indemnity extends to acts of agents. An agreement to indemnify against the acts of a certain person, applies not only to his acts and their consequences, but also to those of his agents. Source: SDC 1939, §31.3104; repealed SL 1966, ch 111, §5; re-enacted SL 1967, ch 235, §4.
Section 56-3-5 – Agreement to indemnify several persons applies to each.
56-3-5. Agreement to indemnify several persons applies to each. An agreement to indemnify several persons applies to each, unless a contrary intention appears. Source: SDC 1939, §31.3105; repealed SL 1966, ch 111, §5; re-enacted SL 1967, ch 235, §5.
Section 56-2-7 – Property of principal first resorted to.
56-2-7. Property of principal first resorted to. Whenever property of a surety is hypothecated with the property of the principal, the surety is entitled to have the property of the principal first applied to the discharge of the obligation. Source: SDC 1939, §26.0212.
Section 56-2-8 – Surety exonerated in like manner with guarantor.
56-2-8. Surety exonerated in like manner with guarantor. A surety is exonerated in like manner with the guarantor. Source: SDC 1939, §26.0205 (1).
Section 56-2-9 – Surety exonerated by performance or offer of performance.
56-2-9. Surety exonerated by performance or offer of performance. A surety is exonerated by performance of the principal obligation or tender of such performance duly made as provided in this code. Source: SDC 1939, §26.0205 (2).