An obligation in favor of several persons is extinguished by performance rendered to any of them, except in the case of a deposit made by owners in common, or in joint ownership, which is regulated by the law on deposit.

Terms Used In South Dakota Codified Laws 20-4-3

  • 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: CivC 1877, § 829; CL 1887, § 3453; RCivC 1903, § 1146; RC 1919, § 753; SDC 1939, § 47.0203.

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