The party rescinding a contract must restore to the other party everything of value which he has received from him under the contract, or must offer to restore the same, upon condition that such party shall do likewise, unless the latter is unable or positively refuses to do so.

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Terms Used In South Dakota Codified Laws 53-11-5

  • Contract: A legal written agreement that becomes binding when signed.

Source: CivC 1877, § 967, subdiv 2; CL 1887, § 3591, subdiv 2; RCivC 1903, § 1285, subdiv 2; RC 1919, § 906 (2); SDC 1939, § 10.0804 (2).

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