South Dakota Codified Laws 20-7-10. Obligation extinguished by release on new consideration or in writing
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An obligation is extinguished by a release therefrom given to the debtor by the creditor, upon a new consideration, or in writing, with or without new consideration.
Terms Used In South Dakota Codified Laws 20-7-10
- 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, § 867; CL 1887, § 3491; RCivC 1903, § 1185; RC 1919, § 792; SDC 1939, § 47.0240.