South Dakota Codified Laws 20-1-2. Origin of obligations
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An obligation arises either from:
(1) The contract of the parties; or
Terms Used In South Dakota Codified Laws 20-1-2
- Contract: A legal written agreement that becomes binding when signed.
- 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.
(2) The operation of law.
Source: CivC 1877, § 799; CL 1887, § 3422; RCivC 1903, § 1115; RC 1919, § 722; SDC 1939, § 47.0102.