South Dakota Codified Laws 43-26-7. Transfer of subject matter of contract for purchase and sale of realty–Destruction withoutfault of vendor–Taking by eminent domain–Payment of purchase price
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If, when either the legal title or the possession of the subject matter of the contract has been transferred, all or any part thereof is destroyed without fault of the vendor or is taken by eminent domain, the purchaser is not thereby relieved from a duty to pay the price, nor is he entitled to recover any portion thereof that he has paid.
Terms Used In South Dakota Codified Laws 43-26-7
- Contract: A legal written agreement that becomes binding when signed.
Source: SL 1937, ch 258, § 1; SDC 1939 & Supp 1960, § 37.1807 (2).