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South DakotaStatutes

Acceptance of accord as satisfaction--Obligation extinguished

SDCL § 20-7-3 — under ACCORD AND SATISFACTION, NOVATION AND RELEASE OF OBLIGATIONS.

SDCL § 20-7-3

Acceptance by the creditor, of the consideration of an accord, extinguishes the obligation and is called satisfaction. Source: CivC 1877, § 861; CL 1887, § 3485; RCivC 1903, § 1179; RC 1919, § 786; SDC 1939, § 47.0235.