22-01-11. Liability on conditional obligation - When notice to guarantor required

22-01-11. Liability on conditional obligation - When notice to guarantor required The liability of a guarantor who guaranties a conditional obligation is commensurate with that of the guarantor's principal and the guarantor is not entitled to notice of the default of the principal unless the guarantor is unable, by the exercise of reasonable diligence, to acquire information of such default and the creditor has actual notice thereof.