Liability under guaranty commission

N.D. Cent. Code § 3-06-05
in effect
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3-06-05. Liability under guaranty commission A factor who charges the factor's 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 the factor's own and not as a mere guarantor for the purchaser, but the factor does not thereby assume any additional responsibility for the safety of the factor's remittance of the proceeds.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t03c06.pdf#nameddest=3-06-05Fetched: 10/16/2026

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