§ 57A-2A-101 Short title
§ 57A-2A-102 Scope
§ 57A-2A-103 Definitions and index of definitions
§ 57A-2A-104 Leases subject to other statutes
§ 57A-2A-105 Territorial application of article to goods covered by certificate of title
§ 57A-2A-106 Limitation on power of parties to consumer lease to choose applicable lawand judicial forum
§ 57A-2A-107 Waiver or renunciation of claim or right after default
§ 57A-2A-108 Unconscionability
§ 57A-2A-201 Statute of frauds
§ 57A-2A-202 Final written expression: parol or extrinsic evidence
§ 57A-2A-203 Seals inoperative
§ 57A-2A-204 Formation in general
§ 57A-2A-205 Firm offers
§ 57A-2A-206 Offer and acceptance in formation of lease contract
§ 57A-2A-208 Modification, rescission and waiver
§ 57A-2A-209 Lessee under finance lease as beneficiary of supply contract
§ 57A-2A-210 Express warranties
§ 57A-2A-211 Warranties against interference and against infringement; lessee’s obligationagainst infringement
§ 57A-2A-212 Implied warranty of merchantability
§ 57A-2A-213 Implied warranty of fitness for particular purpose
§ 57A-2A-214 Exclusion or modification of warranties
§ 57A-2A-215 Cumulation and conflict of warranties express or implied
§ 57A-2A-216 Third party beneficiaries of express and implied warranties
§ 57A-2A-217 Identification
§ 57A-2A-218 Insurance and proceeds
§ 57A-2A-219 Risk of loss
§ 57A-2A-220 Effect of default on risk of loss
§ 57A-2A-221 Casualty to identified goods
§ 57A-2A-301 Enforceability of lease contract
§ 57A-2A-302 Title to and possession of goods
§ 57A-2A-303 Alienability of party’s interest under lease contract or of lessor’s residualinterest in goods; delegation of performance; assignment of rights
§ 57A-2A-304 Subsequent lease of goods by lessor
§ 57A-2A-305 Sale or sublease of goods by lessee
§ 57A-2A-306 Priority of certain liens arising by operation of law
§ 57A-2A-307 Priority of liens arising by attachment or levy on, security interests in, andother claims to goods
§ 57A-2A-308 Special rights of creditors
§ 57A-2A-309 Lessor’s and lessee’s rights when goods become fixtures
§ 57A-2A-310 Lessor’s and lessee’s rights when goods become accessions
§ 57A-2A-401 Insecurity: adequate assurance of performance
§ 57A-2A-402 Anticipatory repudiation
§ 57A-2A-403 Retraction of anticipatory repudiation
§ 57A-2A-404 Substituted performance
§ 57A-2A-405 Excused performance
§ 57A-2A-406 Procedure on excused performance
§ 57A-2A-407 Irrevocable promises: finance leases
§ 57A-2A-501 Default procedure
§ 57A-2A-502 Notice after default
§ 57A-2A-503 Modification or impairment of rights and remedies
§ 57A-2A-504 Liquidation of damages
§ 57A-2A-505 Cancellation and termination and effect of cancellation, termination,rescission, or fraud on rights and remedies
§ 57A-2A-506 Statute of limitations
§ 57A-2A-507 Proof of market rent: time and place
§ 57A-2A-508 Lessee’s remedies
§ 57A-2A-509 Lessee’s rights on improper delivery–Rightful rejection
§ 57A-2A-510 Installment lease contracts: rejection and default
§ 57A-2A-511 Merchant lessee’s duties as to rightfully rejected goods
§ 57A-2A-512 Lessee’s duties as to rightfully rejected goods
§ 57A-2A-513 Cure by lessor of improper delivery–Replacement
§ 57A-2A-514 Waiver of lessee’s objections
§ 57A-2A-515 Acceptance of goods
§ 57A-2A-516 Effect of acceptance of goods–Notice of default–Burden of establishingdefault after acceptance–Notice of claim or litigation to person answerableover
§ 57A-2A-517 Revocation of acceptance of goods
§ 57A-2A-518 Cover–Substitute goods
§ 57A-2A-519 Lessee’s damages for nondelivery, repudiation, default and breach of warrantyin regard to accepted goods
§ 57A-2A-520 Lessee’s incidental and consequential damages
§ 57A-2A-521 Lessee’s right to specific performance or replevin
§ 57A-2A-522 Lessee’s right to goods on lessor’s insolvency
§ 57A-2A-523 Lessor’s rights
§ 57A-2A-524 Lessor’s right to identify goods to lease contract
§ 57A-2A-525 Lessor’s right to possession of goods
§ 57A-2A-526 Lessor’s stoppage of delivery in transit or otherwise
§ 57A-2A-527 Lessor’s rights to dispose of goods
§ 57A-2A-528 Lessor’s damages for nonacceptance or repudiation
§ 57A-2A-529 Lessor’s action for a rent
§ 57A-2A-530 Lessor’s incidental damages
§ 57A-2A-530.1 Lessor’s right to recover for damage to residual interest
§ 57A-2A-531 Standing to sue third parties for injury to goods

Terms Used In South Dakota Codified Laws > Title 57A > Chapter 2A - Leases

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Commercial unit: means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. See South Dakota Codified Laws 57A-2A-103
  • Consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is a natural person and takes under the lease primarily for a personal, family, or household purpose. See South Dakota Codified Laws 57A-2A-103
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fault: means wrongful act, omission, breach or default. See South Dakota Codified Laws 57A-2A-103
  • Fiduciary: A trustee, executor, or administrator.
  • Finance lease: means a lease in which (i) the lessor does not select, manufacture or supply the goods, (ii) the lessor acquires the goods or the right to possession and use of the goods in connection with the lease, and (iii) either (A) the lessee receives a copy of the contract evidencing the lessor's purchase of the goods on or before signing the lease contract, (B) the lessee's approval of the contract evidencing the lessor's purchase of the goods is a condition to effectiveness of the lease contract, (C) the lessor (aa) informs the lessee in writing of the identity of the supplier unless the lessee has selected the supplier and directed the lessor to purchase the goods from the supplier, (bb) informs the lessee in writing that the lessee may have rights under the contract evidencing the lessor's purchase of the goods, and (cc) advises the lessee in writing to contact the supplier for a description of any such rights, or (D) the lease contract discloses all warranties and other rights provided to the lessee by the lessor and supplier in connection with the lease contract and informs the lessee that there are no warranties or other rights provided to the lessee by the lessor and supplier other than those disclosed in the lease contract. See South Dakota Codified Laws 57A-2A-103
  • Fraud: Intentional deception resulting in injury to another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (§. See South Dakota Codified Laws 57A-2A-103
  • Installment lease contract: means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains a clause "each delivery is a separate lease" or its equivalent. See South Dakota Codified Laws 57A-2A-103
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See South Dakota Codified Laws 57A-2A-103
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. See South Dakota Codified Laws 57A-2A-103
  • Lease contract: means the total legal obligation that results from the lease agreement as affected by this chapter and any other applicable rules of law. See South Dakota Codified Laws 57A-2A-103
  • Leasehold interest: means the interest of the lessor or the lessee under a lease contract. See South Dakota Codified Laws 57A-2A-103
  • Lessee: means a person who acquires the right to possession and use of goods under a lease. See South Dakota Codified Laws 57A-2A-103
  • Lessor: means a person who transfers the right to possession and use of goods under a lease. See South Dakota Codified Laws 57A-2A-103
  • Lien: means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest. See South Dakota Codified Laws 57A-2A-103
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Lot: means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract. See South Dakota Codified Laws 57A-2A-103
  • Merchant lessee: means a lessee that is a merchant with respect to goods of the kind subject to the lease. See South Dakota Codified Laws 57A-2A-103
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Present value: means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain. See South Dakota Codified Laws 57A-2A-103
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Purchase: includes taking by sale, lease, mortgage, security interest, pledge, gift or any other voluntary transaction creating an interest in goods. See South Dakota Codified Laws 57A-2A-103
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Seal: includes an impression of the seal upon the paper alone, as well as upon wax or a wafer affixed to the paper, and also the word "seal" written or printed on such paper. See South Dakota Codified Laws 2-14-2
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Sublease: means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease. See South Dakota Codified Laws 57A-2A-103
  • Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See South Dakota Codified Laws 57A-2A-103
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2