The term of a consumer obligation under this chapter, commences with the date the credit is granted unless goods are delivered or services are performed ten days or more after the date credit is granted, in which case the term commences with the date of delivery or performance. Nothing in this section shall prohibit a down payment.

Terms Used In South Dakota Codified Laws 54-3A-6

  • 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.
  • Services: includes :

    (a) Work, labor, and other personal services. See South Dakota Codified Laws 54-3A-1

Source: SL 1974, ch 305, § 7.

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