South Dakota Codified Laws 20-7-1. Accord defined
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An accord is an agreement to accept, in extinction of an obligation, something different from that to which the person agreeing to accept is entitled.
Terms Used In South Dakota Codified Laws 20-7-1
- 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.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: CivC 1877, § 859; CL 1887, § 3483; RCivC 1903, § 1177; RC 1919, § 784; SDC 1939, § 47.0233.