§ 20-4-1 Obligation extinguished by full performance
§ 20-4-2 Joint obligation extinguished by performance by one person
§ 20-4-3 Joint right extinguished by performance to one person–Deposit excepted
§ 20-4-4 Obligation extinguished by performance in manner directed by creditor
§ 20-4-5 Indivisible obligation partially extinguished by partial performance if benefitvoluntarily retained–Exception
§ 20-4-6 Performance applicable to two or more obligations
§ 20-4-7 Performance applied according to debtor’s intent
§ 20-4-8 Application of performance according to creditor’s selection–Application to rightsheld individually and as trustee–Rescission of application made by creditor

Terms Used In South Dakota Codified Laws > Title 20 > Chapter 4

  • 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.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Trustee: A person or institution holding and administering property in trust.