South Dakota § 54-1-1 Definition of terms--Debtor--Creditor.

South Dakota Statutes

§ 54-1-1 — Definition of terms--Debtor--Creditor.

South Dakota·Title 54 DEBTOR AND CREDITOR·Ch. 54-1 DEFINITIONS AND GENERAL PROVISIONS

Terms used in this chapter and chapter 54-8 are defined as follows, unless the context otherwise plainly requires:

(1)"Creditor," is one in whose favor an obligation exists by reason of which he is, or may become, entitled to the payment of money;

(2)"Debtor," one who, by reason of an existing obligation is, or may become liable to pay money to another, whether such liability is certain or contingent.

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Terms used in this chapter and chapter 54-8 are defined as follows, unless the context otherwise plainly requires: (1) "Creditor," is one in whose favor an obligation exists by reason of which he is, or may become, entitled to the payment of money; (2) "Debtor," one who, by reason of an existing obligation is, or may become liable to pay money to another, whether such liability is certain or contingent.

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