Home/South Dakota/Statutes/Title 53: CONTRACTS/Ch. 53-6: CONSIDERATION FOR CONTRACTS/§ 53-6-8
South Dakota Statutes

§ 53-6-8 — Executory consideration--Determination of amount.

South Dakota·Title 53 CONTRACTS·Ch. 53-6 CONSIDERATION FOR CONTRACTS
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.

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South Dakota § 53-6-8 (Executory consideration--Determination of amount.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

CivC 1877, § 911; CL 1887, § 3535; RCivC 1903, § 1229; RC 1919, § 844; SDC 1939, § 10.0508.

Nearby Sections

15
§ 53-1-1
Contract defined.
§ 53-1-2
Essential elements of contract.
§ 53-1-3
Contracts, express or implied--Express contract defined--Implied contract defined.
§ 53-1-4
Law and usage of place of performance, application to contracts.
§ 53-10-1
Executed contract distinguished from executory contract.
§ 53-10-2
Time of performance of contract not specified--Allowance of reasonable time--Instant action.
§ 53-10-3
Time as essence of the contract.
§ 53-11-1
Extinguishment of contracts--Methods.
§ 53-11-2
Rescission by party to contract--Grounds.
§ 53-11-3
Rescission not effected by consent--Accomplishment by use of diligence to comply with rules governing rescission.
§ 53-11-4
Prompt action by party rescinding on discovery of duress, undue influence, or disability.
§ 53-11-5
Restoration of everything of value by party rescinding.
§ 53-11-6
Extinction by destruction or cancellation of contract or signatures by consent.
§ 53-11-7
Extinction by intentional destruction, cancellation or alteration of contract--Alteration or destruction of duplicate, not to prejudice.
§ 53-12-1
Definition of terms.
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