Where a guaranty is entered into at the same time with the original obligation or with the acceptance of the latter by the guarantee and forms, with that obligation, a part of the consideration to him, no other consideration need exist. In all other cases there must be a consideration distinct from that of the original obligation.
S.D. Codified Laws § 56-1-3
Consideration--When required
Applied in 1 court decision — leading case Richter v. Industrial Finance Co. Inc. (1974)
Most recently applied in Richter v. Industrial Finance Co. Inc. (August 1974)
Source: SDC 1939, § 26.0103.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.