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Oklahoma Statutes

Okla. Stat. tit. 15, § 321 (2026)

Guaranty defined

✓ current as of July 2026
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A guaranty is a promise to answer for the debt, default or miscarriage of another person. R.L.1910, § 1026.

Notes of Decisions
Cited in 8 cases, 1979–2014 · leading case: Founders Bank & Trust Co. v. Upsher, 830 P.2d 1355 (Okla. 1992).
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Founders Bank & Trust Co. v. Upsher, 830 P.2d 1355 (Okla. 1992). “15 O.S.1981 § 321; Lum v. Lee Way Motor Freight, Inc.”
Lum v. Lee Way Motor Freight, Inc., 757 P.2d 810 (Okla. 1987). “The scope of PepsiCo’s liability under its guaranty for the bankrupt employer bears directly upon the claimant’s right to enforce his award and hence formed an issue cognizable by the Workers’ Compensation Court.”
Bank of Oklahoma, N.A. v. Welco, Inc., 898 P.2d 172 (Okla. Civ. App. 1995). “However, Ledbetter is only a guarantor of that debt, and in Riverside the Court rejected the argument that a creditor’s failure to seek a deficiency judgment automatically impairs a guarantor’s right to proceed against the principal debtor and therefore exonerates the guarantor.”
Dubuque Packing Co., Inc. v. Fitzgibbon, 599 P.2d 440 (Okla. Civ. App. 1979). “” 15 O.S.1971, § 321. From a reading of these two definitions a key difference seems to lie in one of the conditions for liability, i.”
Empire Bank v. Dumond, 28 F. Supp. 3d 1179 (N.D. Okla. 2014). “The most consistent reading of the case is either that the court was using "section 686” as judicial shorthand for "the protections of section 686 as made applicable to guaranties through Okla. Stat. tit. 15, §§ 321 -344” or that the court determined that, because the…”
Borges v. Waller, 270 P.3d 202 (Okla. Civ. App. 2011). “2d 810, 814 ; 15 O.S.2001 § 321. T9 The language of the lease guarantee is consistent with this position as well.”
Home-Stake Oil & Gas v. Home-Stake Acq. (10th Cir. 2000). “” Okla. Stat. Ann. tit. 15, § 321 (West 1993).”
Lane v. Cook, 602 P.2d 651 (Okla. 1979). “” 15 O.S.1971, § 321. The liability is conditional and the debt does not exist when the agreement is given.”
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