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Current as of January 01, 2024 | Updated by Findlaw Staff
(1) A guaranty relating to a future liability of the principal under successive transactions that either continue the principal's liability or from time to time renew it after it has been satisfied is called a continuing guaranty.
(2) A continuing guaranty may be revoked at any time by the guarantor in respect to future transactions unless there is a continuing consideration as to the transactions that the guarantor does not renounce.
Cite this article: FindLaw.com - Montana Title 28. Contracts and Other Obligations § 28-11-108. Continuing guaranty--definition--revocation - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-28-contracts-and-other-obligations/mt-st-28-11-108/
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