South Dakota Codified Laws 20-4-7. Performance applied according to debtor’s intent
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If, at the time of the performance by a debtor described by § 20-4-6, the intention or desire of the debtor that such performance should be applied to the extinction of any particular obligation, be manifested to the creditor, it must be so applied.
Terms Used In South Dakota Codified Laws 20-4-7
- 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.
Source: CivC 1877, § 833, subdiv 1; CL 1887, § 3457, subdiv 1; RCivC 1903, § 1150, subdiv 1; RC 1919, § 757 (1); SDC 1939, § 47.0207 (1).