56-3-14. Application of stipulation as to conclusiveness of judgment against person indemnified upon indemnitor. A stipulation that a judgment against the person indemnified shall be conclusive upon the person indemnifying, is inapplicable, unless a contrary intention appears, if the person indemnified had a good defense upon the merits, which, by want of ordinary care, he failed to establish in the action.
Source: SDC 1939, § 31.3107 (7); repealed SL 1966, ch 111, § 5; re-enacted SL 1967, ch 235, § 7 (7).
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