Acceptance of accord as satisfaction--Obligation extinguished.

  1. Law
  2. South Dakota Codified Laws
  3. Personal Rights and Obligations
  4. Accord And Satisfaction, Novation And Release Of Obligations
  5. Acceptance of accord as satisfaction--Obligation extinguished.

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20-7-3. Acceptance of accord as satisfaction--Obligation extinguished.

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.


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