53-6-8. Executory consideration--Determination of amount.
When a consideration is executory, it is not indispensable that the contract should specify its amount or the means of ascertaining it. It may be left to the decision of a third person or regulated by any specific standard.
Source: CivC 1877, §911; CL 1887, §3535; RCivC 1903, §1229; RC 1919, §844; SDC 1939, §10.0508.