South Dakota Codified Laws 20-4-1. Obligation extinguished by full performance
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Full performance of an obligation, by the party whose duty it is to perform it, or by any other person on his behalf, and with his assent, if accepted by the creditor, extinguishes it.
Terms Used In South Dakota Codified Laws 20-4-1
- 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.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: CivC 1877, § 827; CL 1887, § 3451; RCivC 1903, § 1144; RC 1919, § 751; SDC 1939, § 47.0201.