Section 56-2-12 - Liability of surety limited by express terms of contract--Penalty for breach

56-2-12. Liability of surety limited by express terms of contract--Penalty for breach.A surety cannot be held beyond the express terms of his contract, and if such contract prescribes a penalty for its breach, he cannot in any case be liable for more than the penalty. Source: SDC 1939, §26.0202.