§ 53-11-1 Extinguishment of contracts–Methods
§ 53-11-2 Rescission by party to contract–Grounds
§ 53-11-3 Rescission not effected by consent–Accomplishment by use of diligence to complywith rules governing rescission
§ 53-11-4 Prompt action by party rescinding on discovery of duress, undue influence, ordisability
§ 53-11-5 Restoration of everything of value by party rescinding
§ 53-11-6 Extinction by destruction or cancellation of contract or signatures by consent
§ 53-11-7 Extinction by intentional destruction, cancellation or alteration of contract–Alteration or destruction of duplicate, not to prejudice
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Terms Used In South Dakota Codified Laws > Title 53 > Chapter 11 - Extinction and Alteration of Contracts

  • Contract: A legal written agreement that becomes binding when signed.
  • Fraud: Intentional deception resulting in injury to another.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Statute: A law passed by a legislature.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2