2011 Vermont Code
Title 12 Court Procedure
Chapter 7 PREVENTION OF FRAUDS AND PERJURIES
§ 183 Extension of time when there is a surety
§ 183. Extension of time when there is a surety
Where the performance of a contract is secured by the obligation of a surety, an agreement made between the creditor and the principal debtor for the extension of the time of payment, or the performance of the contract, shall not have any binding effect, at law unless such agreement is made upon a valuable consideration and is in writing, or some note or memorandum thereof is in writing and signed by such creditor, or by some person thereunto duly authorized, reciting briefly the consideration upon which such contract is founded. (1971, No. 185 (Adj. Sess.), { 236, eff. March 29, 1972.)
Disclaimer: These codes may not be the most recent version. Vermont may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
