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2019 South Dakota Codified Laws
Title 59 - Agency
Chapter 09 - Factors
§ 59-9-3 Liability under guaranty commission.
Universal Citation: SD Codified L § 59-9-3 (2019)
59-9-3. Liability under guaranty commission. A factor who charges his principal with a guaranty commission upon a sale, thereby assumes absolutely to pay the price when it falls due, as if it were a debt of his own, and not as a mere guarantor for the purchaser; but he does not thereby assume any additional responsibility for the safety of his remittance of the proceeds.
Source: CivC 1877, § 1171; CL 1887, § 3794; RCivC 1903, § 1490; RC 1919, § 1291; SDC 1939, § 3.0605.
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