Mont. Code Ann. § 28-1-1504
This is the official text of Mont. Code Ann. § 28-1-1504, part of Montana’s Code Ann — part of the compiled statutory law of Montana, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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28-1-1504 When acceptance of novation may be rescinded
Official statutory text
28-1-1504 . When acceptance of novation may be rescinded. When the obligation of a third person or an order upon the third person is accepted in satisfaction, the creditor may rescind the acceptance if:
(1) the debtor prevents the third person from complying with the order or from fulfilling the obligation;
(2) at the time the obligation or order is received, the third person is insolvent and the fact is unknown to the creditor; or
(3) before the creditor can, with reasonable diligence, present the order to the third person upon whom it is given, the third person becomes insolvent.
(1) the debtor prevents the third person from complying with the order or from fulfilling the obligation;
(2) at the time the obligation or order is received, the third person is insolvent and the fact is unknown to the creditor; or
(3) before the creditor can, with reasonable diligence, present the order to the third person upon whom it is given, the third person becomes insolvent.
Status: in_force · Read it on the official government site
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