South Dakota Codified Laws 56-1-8. Undertaking by factor to sell merchandise and guarantee sale–Writing unnecessary
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A promise to answer for the obligation of another is deemed an original obligation of the promiser and need not be in writing where a factor undertakes, for a commission, to sell merchandise and guarantee the sale.
Terms Used In South Dakota Codified Laws 56-1-8
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- 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: SDC 1939, § 26.0105 (4).