South Dakota Codified Laws 20-2-1. Conditional obligation defined
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An obligation is conditional when the rights or duties of any party thereto depend upon the occurrence of an uncertain event.
Terms Used In South Dakota Codified Laws 20-2-1
- 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.
Source: CivC 1877, § 804; CL 1887, § 3427; RCivC 1903, § 1120; RC 1919, § 727; SDC 1939, § 47.0107.