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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 12 : Court Procedure

Chapter 007 : PREVENTION OF FRAUDS AND PERJURIES

(Cite as: 12 V.S.A. § 183)
  • § 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.)