First International Bank v. Beiseker
North Dakota Supreme Court
'Appeal from District Court .of Wells County, Coffey, J. “A guarantor is exonerated, except so far as be may be indemnified by the principal, if by any act of the creditor -without the consent of the guarantor the original obligation of the principal is altered in any respect, or the remedies or rights of the creditors against the principal in respect thereto is in any way impaired or suspended.”
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'Appeal from District Court .of Wells County, Coffey, J. “A guarantor is exonerated, except so far as be may be indemnified by the principal, if by any act of the creditor -without the consent of the guarantor the original obligation of the principal is altered in any respect, or the remedies or rights of the creditors against the principal in respect thereto is in any way impaired or suspended.” Secs. 6668, 6672; Leonhardt v. Citizens State Bank, 76 N. W. Rep. 452, 453; Northern State Bank v. Bellamy, supra; Holmes v. Williams, 53 N. E. Rep. 93 (111.). “A guaranty of the payment of an…
1Opinion of the CourtBirdzell, J.
This is an appeal from an order sustaining a demurrer to certain paragraphs in the answer on the ground that the matters alleged do not constitute a defense to the cause of action alleged in the complaint. The cause of action is based upon the breach of a contract whereby the defendant and appellant, upon selling his stock in the First International Bank of Columbus, North Dakota, amounting to a controlling interest, guaranteed the payment of the bills receivable. The portion of the contract which is material upon this appeal is as follows: “ . . . and in part consideration for the purchase…
2Cases cited1 opinion
- Scandinavian American Bank of Fargo v. WestbyNorth Dakota Supreme Court · 1918
3Cited by3 opinions
- Bank of Conway v. StaryNorth Dakota Supreme Court · 1924
- Farmers State Bank v. KvammeNorth Dakota Supreme Court · 1924
- National Discount Corp. v. HasperMichigan Supreme Court · 1933