If the maturity of an obligation under an installment sales contract is accelerated for any reason and judgment is obtained, the consumer is entitled to a rebate computed as if payment in full had been made on the date that the action was brought.

Terms Used In South Dakota Codified Laws 54-3A-10

  • Contract: A legal written agreement that becomes binding when signed.
  • 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: SL 1974, ch 305, § 4.