South Dakota Codified Laws 20-1-3. Kinds of obligations arising by operation of law
Current as of: 2023 | Check for updates
|
Other versions
An obligation arising by operation of law may be either a general legal duty imposed upon all persons indifferently by law or a legal duty affixed by operation of law to a status or relationship voluntarily assumed.
Terms Used In South Dakota Codified Laws 20-1-3
- 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: SDC 1939, § 47.0103.