South Dakota Codified Laws 53-6-2. Legal or moral obligation as good consideration
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An existing legal obligation resting upon the promiser or a moral obligation originating in some benefit conferred upon the promiser or prejudice suffered by the promisee is also a good consideration for a promise to an extent corresponding with the extent of the obligation, but no further or otherwise.
Terms Used In South Dakota Codified Laws 53-6-2
- 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, § 907; CL 1887, § 3531; RCivC 1903, § 1225; RC 1919, § 840; SDC 1939, § 10.0502.