<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.se6cab3f20ec140bf952c7497d85ad66eNormal { text-align: center; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.se6cab3f20ec140bf952c7497d85ad66eHG4 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.se6cab3f20ec140bf952c7497d85ad66eHG4C { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.se6cab3f20ec140bf952c7497d85ad66eNormal-000000 { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.se6cab3f20ec140bf952c7497d85ad66e000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.se6cab3f20ec140bf952c7497d85ad66eB { margin-left: 1.38in; text-indent: -1.38in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-1 - GENERAL PROVISIONS"><meta property="og:description" content="SDLRC Codified Law 57A-1 - GENERAL PROVISIONS"><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-1"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal"><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eHG4">CHAPTER </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-1" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1</span></a></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal"><span class="se6cab3f20ec140bf952c7497d85ad66eHG4C">GENERAL PROVISIONS</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal-000000"><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66e000001"> </span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal-000000"><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66e000001"> </span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal"><span class="se6cab3f20ec140bf952c7497d85ad66eHG4">PART 1. GENERAL PROVISIONS.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal-000000"><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66e000001"> </span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-101" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-101</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Short title.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-102" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-102</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Scope of chapter.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-103" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-103</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Construction of title to promote its purposes and policies--Applicability of supplemental principles of law.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-104" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-104</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Construction against implied repeal.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-105" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-105</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Severability.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-106" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-106</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Use of singular and plural--Gender.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-107" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-107</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Section captions.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-108" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-108</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Relation to Electronic Signatures in Global and National Commerce Act.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-109" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-109</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Repealed.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal-000000"><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66e000001"> </span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal"><span class="se6cab3f20ec140bf952c7497d85ad66eHG4">PART 2. GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal-000000"><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66e000001"> </span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-201" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-201</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����General definitions.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-202" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-202</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Notice--Knowledge.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-203" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-203</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Lease distinguished from security interest.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-204" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-204</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Value.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-205" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-205</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Reasonable time--Seasonableness.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-206" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-206</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Presumptions.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-207" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-207</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Central bank digital currency.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal-000000"><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66e000001"> </span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal"><span class="se6cab3f20ec140bf952c7497d85ad66eHG4">PART 3. TERRITORIAL APPLICABILITY AND GENERAL RULES.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eNormal-000000"><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66e000001"> </span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-301" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-301</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Territorial applicability--Parties' power to choose applicable law.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-302" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-302</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Variation by agreement.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-303" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-303</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Course of performance, course of dealing, and usage of trade.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-304" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-304</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Obligation of good faith.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-305" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-305</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Remedies to be liberally administered.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-306" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-306</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Waiver or renunciation of claim or right after breach.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-307" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-307</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Prima facie evidence by third-party documents.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-308" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-308</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Performance or acceptance under reservation of rights.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-309" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-309</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Option to accelerate at will.</span></p><p dir="ltr" class="se6cab3f20ec140bf952c7497d85ad66eB"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-310" rel="noopener"><span class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">57A-1-310</span></a><span xml:space="preserve" class="se6cab3f20ec140bf952c7497d85ad66eDefaultParagraphFont">����Subordinated obligations.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073147Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073147SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073147CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073147Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073147DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073147Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073147000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073147SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073147SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073147Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-101"><span class="s2073147SENU">57A-1-101</span></a><span xml:space="preserve" class="s2073147SENU">.�</span><span class="s2073147CL">Short title.</span></p><p dir="ltr" class="s2073147Normal-000000"><span class="s2073147DefaultParagraphFont">(a) This title may be cited as the Uniform Commercial Code.</span></p><p dir="ltr" class="s2073147Normal-000001"><span class="s2073147DefaultParagraphFont">(b) This chapter may be cited as Uniform Commercial Code--General Provisions.</span></p><p dir="ltr" class="s2073147Normal"><span xml:space="preserve" class="s2073147000002"> </span></p><p dir="ltr" class="s2073147Normal"><span class="s2073147SCL">Source:</span><span xml:space="preserve" class="s2073147SCL-000003"> SL 2008, ch 259, ��1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073148Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073148SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073148CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073148Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073148DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073148000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073148SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073148SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073148Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-102"><span class="s2073148SENU">57A-1-102</span></a><span xml:space="preserve" class="s2073148SENU">.�</span><span class="s2073148CL">Scope of chapter.</span></p><p dir="ltr" class="s2073148Normal-000000"><span class="s2073148DefaultParagraphFont">This chapter applies to a transaction to the extent that it is governed by another chapter of Title 57A.</span></p><p dir="ltr" class="s2073148Normal"><span xml:space="preserve" class="s2073148000001"> </span></p><p dir="ltr" class="s2073148Normal"><span class="s2073148SCL">Source:</span><span xml:space="preserve" class="s2073148SCL-000002"> SL 2008, ch 259, ��2.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073149Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073149SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073149CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073149Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073149DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073149Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2073149Normal-000002 { text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073149000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073149SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073149SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073149Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-103"><span class="s2073149SENU">57A-1-103</span></a><span xml:space="preserve" class="s2073149SENU">.�</span><span class="s2073149CL">Construction of title to promote its purposes and policies--Applicability of supplemental principles of law.</span></p><p dir="ltr" class="s2073149Normal-000000"><span class="s2073149DefaultParagraphFont">(a) This title shall be liberally construed and applied to promote its underlying purposes and policies, which are:</span></p><p dir="ltr" class="s2073149Normal-000001"><span class="s2073149DefaultParagraphFont">(1)����To simplify, clarify, and modernize the law governing commercial transactions;</span></p><p dir="ltr" class="s2073149Normal-000001"><span class="s2073149DefaultParagraphFont">(2)����To permit the continued expansion of commercial practices through custom, usage, and agreement of the parties; and</span></p><p dir="ltr" class="s2073149Normal-000001"><span class="s2073149DefaultParagraphFont">(3)����To make uniform the law among the various jurisdictions.</span></p><p dir="ltr" class="s2073149Normal-000002"><span class="s2073149DefaultParagraphFont">(b) Unless displaced by the particular provisions of this title, the principles of law and equity, including the law merchant and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, and other validating or invalidating cause supplement its provisions.</span></p><p dir="ltr" class="s2073149Normal"><span xml:space="preserve" class="s2073149000003"> </span></p><p dir="ltr" class="s2073149Normal"><span class="s2073149SCL">Source:</span><span xml:space="preserve" class="s2073149SCL-000004"> SL 2008, ch 259, ��3.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073150Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073150SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073150CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073150Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073150DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073150000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073150SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073150SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073150Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-104"><span class="s2073150SENU">57A-1-104</span></a><span xml:space="preserve" class="s2073150SENU">.�</span><span class="s2073150CL">Construction against implied repeal.</span></p><p dir="ltr" class="s2073150Normal-000000"><span class="s2073150DefaultParagraphFont">This title being a general act intended as a unified coverage of its subject matter, no part of it may be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided.</span></p><p dir="ltr" class="s2073150Normal"><span xml:space="preserve" class="s2073150000001"> </span></p><p dir="ltr" class="s2073150Normal"><span class="s2073150SCL">Source:</span><span xml:space="preserve" class="s2073150SCL-000002"> SL 2008, ch 259, ��4.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073151Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073151SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073151CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073151Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073151DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073151000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073151SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073151SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073151Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-105"><span class="s2073151SENU">57A-1-105</span></a><span xml:space="preserve" class="s2073151SENU">.�</span><span class="s2073151CL">Severability.</span></p><p dir="ltr" class="s2073151Normal-000000"><span class="s2073151DefaultParagraphFont">If any provision or clause of this title or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this title which can be given effect without the invalid provision or application, and to this end the provisions of this title are severable.</span></p><p dir="ltr" class="s2073151Normal"><span xml:space="preserve" class="s2073151000001"> </span></p><p dir="ltr" class="s2073151Normal"><span class="s2073151SCL">Source:</span><span xml:space="preserve" class="s2073151SCL-000002"> SL 2008, ch 259, ��5.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073152Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073152SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073152CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073152Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073152DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073152Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073152000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073152SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073152SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073152Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-106"><span class="s2073152SENU">57A-1-106</span></a><span xml:space="preserve" class="s2073152SENU">.�</span><span class="s2073152CL">Use of singular and plural--Gender.</span></p><p dir="ltr" class="s2073152Normal-000000"><span class="s2073152DefaultParagraphFont">In this title, unless the statutory context otherwise requires:</span></p><p dir="ltr" class="s2073152Normal-000001"><span class="s2073152DefaultParagraphFont">(1)����Words in the singular number include the plural, and those in the plural include the singular; and</span></p><p dir="ltr" class="s2073152Normal-000001"><span class="s2073152DefaultParagraphFont">(2)����Words of any gender also refer to any other gender.</span></p><p dir="ltr" class="s2073152Normal"><span xml:space="preserve" class="s2073152000002"> </span></p><p dir="ltr" class="s2073152Normal"><span class="s2073152SCL">Source:</span><span xml:space="preserve" class="s2073152SCL-000003"> SL 2008, ch 259, ��6.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073153Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073153SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073153CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073153Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073153DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073153000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073153SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073153SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073153Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-107"><span class="s2073153SENU">57A-1-107</span></a><span xml:space="preserve" class="s2073153SENU">.�</span><span class="s2073153CL">Section captions.</span></p><p dir="ltr" class="s2073153Normal-000000"><span class="s2073153DefaultParagraphFont">Section captions are part of this title.</span></p><p dir="ltr" class="s2073153Normal"><span xml:space="preserve" class="s2073153000001"> </span></p><p dir="ltr" class="s2073153Normal"><span class="s2073153SCL">Source:</span><span xml:space="preserve" class="s2073153SCL-000002"> SL 2008, ch 259, ��7.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073154Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073154SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073154CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073154Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073154DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073154DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: italic; font-weight: normal; margin: 0; padding: 0; } span.s2073154000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073154SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073154SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073154Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-108"><span class="s2073154SENU">57A-1-108</span></a><span xml:space="preserve" class="s2073154SENU">.�</span><span class="s2073154CL">Relation to Electronic Signatures in Global and National Commerce Act.</span></p><p dir="ltr" class="s2073154Normal-000000"><span xml:space="preserve" class="s2073154DefaultParagraphFont">This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 </span><span class="s2073154DefaultParagraphFont-000001">et seq.</span><span class="s2073154DefaultParagraphFont">, except that nothing in this chapter modifies, limits, or supersedes Section 7001(c) of that Act or authorizes electronic delivery of any of the notices described in Section 7003(b) of that Act.</span></p><p dir="ltr" class="s2073154Normal"><span xml:space="preserve" class="s2073154000002"> </span></p><p dir="ltr" class="s2073154Normal"><span class="s2073154SCL">Source:</span><span xml:space="preserve" class="s2073154SCL-000003"> SL 2008, ch 259, ��8.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s0bef8683660d4c97ad5182b69d146df9Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s0bef8683660d4c97ad5182b69d146df9DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s0bef8683660d4c97ad5182b69d146df9000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s0bef8683660d4c97ad5182b69d146df9DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-1-109 - Repealed."><meta property="og:description" content="SDLRC Codified Law 57A-1-109 - Repealed."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=57A-1-109"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s0bef8683660d4c97ad5182b69d146df9Normal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-109" rel="noopener"><span class="s0bef8683660d4c97ad5182b69d146df9DefaultParagraphFont">57A-1-109</span></a><span xml:space="preserve" class="s0bef8683660d4c97ad5182b69d146df9DefaultParagraphFont">. </span><span class="s0bef8683660d4c97ad5182b69d146df9DefaultParagraphFont">Repealed.</span></p><p dir="ltr" class="s0bef8683660d4c97ad5182b69d146df9Normal"><span xml:space="preserve" class="s0bef8683660d4c97ad5182b69d146df9000000"> </span></p><p dir="ltr" class="s0bef8683660d4c97ad5182b69d146df9Normal"><span xml:space="preserve" class="s0bef8683660d4c97ad5182b69d146df9DefaultParagraphFont">Source: </span><span class="s0bef8683660d4c97ad5182b69d146df9DefaultParagraphFont-000001">SL 1966, ch 150, ��1-109; SL 2008, ch 259, ��43.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s7d849fde61ba42b48f12cbd7f984174fNormal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s7d849fde61ba42b48f12cbd7f984174fSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s7d849fde61ba42b48f12cbd7f984174fCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s7d849fde61ba42b48f12cbd7f984174fStatute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1-000000 { margin-left: 0.75in; text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s7d849fde61ba42b48f12cbd7f984174f000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s7d849fde61ba42b48f12cbd7f984174fNoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s7d849fde61ba42b48f12cbd7f984174fSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-1-201 - General definitions."><meta property="og:description" content="SDLRC Codified Law 57A-1-201 - General definitions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-1-201"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fNormal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-201" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fSENU">57A-1-201</span></a><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fSENU">. </span><span class="s7d849fde61ba42b48f12cbd7f984174fCL">General definitions.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatute"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(a) Unless the context otherwise requires, words or phrases defined in this section, or in the additional definitions contained in other chapters of this title that apply to particular chapters or parts thereof, have the meanings stated.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatute"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(b) Subject to definitions contained in other chapters of this title that apply to particular chapters or parts thereof:</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(1)����"Action," in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in equity, and any other proceeding in which rights are determined.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(2)����"Aggrieved party" means a party entitled to pursue a remedy.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(3)����"Agreement," as distinguished from "contract," means the bargain of the parties in fact, as found in their language or inferred from other circumstances, including course of performance, course of dealing, or usage of trade as provided in ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-303" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-1-303</span></a><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(4)����"Bank" means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union, and trust company.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(5)����"Bearer" means a person in control of a negotiable electronic document of title or a person in possession of a negotiable instrument, a negotiable tangible document of title, or a certificated security that is payable to bearer or indorsed in blank.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(6)����"Bill of lading" means a document of title evidencing the receipt of goods for shipment issued by a person engaged in the business of directly or indirectly transporting or forwarding goods. The term does not include a warehouse receipt.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(7)����"Branch" includes a separately incorporated foreign branch of a bank.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(8)����"Burden of establishing" a fact means the burden of persuading the trier of fact that the existence of the fact is more probable than its nonexistence.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(9)����"Buyer in ordinary course of business" means a person that buys goods in good faith, without knowledge that the sale violates the rights of another person in the goods, and in the ordinary course from a person, other than a pawnbroker, in the business of selling goods of that kind. A person buys goods in the ordinary course if the sale to the person comports with the usual or customary practices in the kind of business in which the seller is engaged or with the seller's own usual or customary practices. A person that sells oil, gas, or other minerals at the wellhead or minehead is a person in the business of selling goods of that kind. A buyer in ordinary course of business may buy for cash, by exchange of other property, or on secured or unsecured credit, and may acquire goods or documents of title under a preexisting contract for sale. Only a buyer that takes possession of the goods or has a right to recover the goods from the seller under chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-2</span></a><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont"> may be a buyer in ordinary course of business. "Buyer in ordinary course of business" does not include a person that acquires goods in a transfer in bulk or as security for or in total or partial satisfaction of a money debt.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(9A)����"Central bank digital currency," a national digital currency issued by a central bank and that is widely available to the general public.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(10)����"Conspicuous," with reference to a term, means so written, displayed, or presented that, based on the totality of the circumstances, a reasonable person against which it is to operate ought to have noticed it. Whether a term is "conspicuous" or not is a decision for the court.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(11)����"Consumer" means an individual who enters into a transaction primarily for personal, family, or household purposes.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(12)����"Contract," as distinguished from "agreement," means the total legal obligation that results from the parties' agreement as determined by this title as supplemented by any other applicable laws.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(13)����"Creditor" includes a general creditor, a secured creditor, a lien creditor, and any representative of creditors, including an assignee for the benefit of creditors, a trustee in bankruptcy, a receiver in equity, and an executor or administrator of an insolvent debtor's or assignor's estate.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(14)����"Defendant" includes a person in the position of defendant in a counterclaim, cross-claim, or third-party claim.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(15)����"Delivery," with respect to an electronic document of title, means voluntary transfer of control; and with respect to an instrument, a tangible document of title, or an authoritative tangible copy of a record evidencing chattel paper, means voluntary transfer of possession.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(16)����"Document of title" means a record (i) that in the regular course of business or financing is treated as adequately evidencing that the person in possession or control of the record is entitled to receive, control, hold, and dispose of the record and the goods the record covers and (ii) that purports to be issued by or addressed to a bailee and to cover goods in the bailee's possession which are either identified or are fungible portions of an identified mass. The term includes a bill of lading, transport document, dock warrant, dock receipt, warehouse receipt, and order for delivery of goods. An electronic document of title is evidenced by a record consisting of information stored in an electronic medium. A tangible document of title is evidenced by a record consisting of information that is inscribed on a tangible medium.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(16A)����"Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(17)����"Fault" means a default, breach, or wrongful act or omission.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(18)����"Fungible goods" means:</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(A)����Goods of which any unit, by nature or usage of trade, is the equivalent of any other like unit; or</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(B)����Goods that by agreement are treated as equivalent.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(19)����"Genuine" means free of forgery or counterfeiting.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(20)����"Good faith," except as otherwise provided in chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-5" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-5</span></a><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">, means honesty in fact and the observance of reasonable commercial standards of fair dealing.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(21)����"Holder" means:</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(A)����The person in possession of a negotiable instrument that is payable either to bearer or to an identified person that is the person in possession;</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(B)����The person in possession of a negotiable tangible document of title if the goods are deliverable either to bearer or to the order of the person in possession; or</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(C)����A person in control, other than pursuant to ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-7-106" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-7-106</span></a><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">, of a negotiable electronic document of title.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(22)����"Insolvency proceeding" includes an assignment for the benefit of creditors or other proceeding intended to liquidate or rehabilitate the estate of the person involved.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(23)����"Insolvent" means:</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(A)����Having generally ceased to pay debts in the ordinary course of business other than as a result of bona fide dispute;</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(B)����Being unable to pay debts as they become due; or</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(C)����Being insolvent within the meaning of federal bankruptcy law.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(24)����"Money" means a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term is not intended and cannot be construed to create or adopt a central bank digital currency.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(25)����"Organization" means a person other than an individual.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(26)����"Party," as distinguished from "third party," means a person that has engaged in a transaction or made an agreement subject to this title.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(27)����"Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. The term includes a protected series, however denominated, of an entity if the protected series is established under law other than this title that limits, or limits if conditions specified under the law are satisfied, the ability of a creditor of the entity or of any other protected series of the entity to satisfy a claim from assets of the protected series.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(28)����"Present value" means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain by use of either an interest rate specified by the parties if that rate is not manifestly unreasonable at the time the transaction is entered into or, if an interest rate is not so specified, a commercially reasonable rate that takes into account the facts and circumstances at the time the transaction is entered into.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(29)����"Purchase" means taking by sale, lease, discount, negotiation, mortgage, pledge, lien, security interest, issue or reissue, gift, or any other voluntary transaction creating an interest in property.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(30)����"Purchaser" means a person that takes by purchase.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(31)����"Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(32)����"Remedy" means any remedial right to which an aggrieved party is entitled with or without resort to a tribunal.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(33)����"Representative" means a person empowered to act for another, including an agent, an officer of a corporation or association, and a trustee, executor, or administrator of an estate.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(34)����"Right" includes remedy.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(35)����"Security interest" means an interest in personal property or fixtures which secures payment or performance of an obligation. "Security interest" includes any interest of a consignor and a buyer of accounts, chattel paper, a payment intangible, or a promissory note in a transaction that is subject to chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-9</span></a><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">. "Security interest" does not include the special property interest of a buyer of goods on identification of those goods to a contract for sale under ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-401" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-2-401</span></a><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">, but a buyer may also acquire a "security interest" by complying with chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-9</span></a><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">. Except as otherwise provided in ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-505" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-2-505</span></a><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">, the right of a seller or lessor of goods under chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-2</span></a><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-2A</span></a><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont"> to retain or acquire possession of the goods is not a "security interest," but a seller or lessor may also acquire a "security interest" by complying with chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-9</span></a><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">. The retention or reservation of title by a seller of goods notwithstanding shipment or delivery to the buyer under ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-401" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-2-401</span></a><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont"> is limited in effect to a reservation of a "security interest." Whether a transaction in the form of a lease creates a "security interest" is determined pursuant to ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-203" rel="noopener"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">57A-1-203</span></a><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(36)����"Send," in connection with a record or notification, means:</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(A)����To deposit in the mail, deliver for transmission, or transmit by any other usual means of communication, with postage or cost of transmission provided for, addressed to any address reasonable under the circumstances; or</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(B)����To cause the record or notification to be received within the time it would have been received if properly sent under subparagraph (A).</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(37)����"Sign" means, with present intent to authenticate or adopt a record to:</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(A)����Execute or adopt a tangible symbol; or</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber2"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(B)����Attach to or logically associate with the record an electronic symbol, sound, or process.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1-000000"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">"Signed," "signing," and "signature" have corresponding meanings.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(38)����"State" means a State of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(39)����"Surety" includes a guarantor or other secondary obligor.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(40)����"Term" means a portion of an agreement that relates to a particular matter.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(41)����"Unauthorized signature" means a signature made without actual, implied, or apparent authority. The term includes a forgery.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(42)����"Warehouse receipt" means a document of title issued by a person engaged in the business of storing goods for hire.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fStatuteNumber1"><span class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont">(43)����"Writing" includes printing, typewriting, or any other intentional reduction to tangible form. "Written" has a corresponding meaning.</span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fNormal"><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174f000001"> </span></p><p dir="ltr" class="s7d849fde61ba42b48f12cbd7f984174fNoIndent"><span xml:space="preserve" class="s7d849fde61ba42b48f12cbd7f984174fDefaultParagraphFont-000002">Source: </span><span class="s7d849fde61ba42b48f12cbd7f984174fSCL">SL 2008, ch 259, ��9; SL 2009, ch 254, ���800 to 805; SL 2024, ch 198, ��1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073157Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073157SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073157CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073157Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073157DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073157Normal-000001 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2073157Normal-000002 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073157000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073157SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073157SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073157Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-202"><span class="s2073157SENU">57A-1-202</span></a><span xml:space="preserve" class="s2073157SENU">.�</span><span class="s2073157CL">Notice--Knowledge.</span></p><p dir="ltr" class="s2073157Normal-000000"><span class="s2073157DefaultParagraphFont">(a) Subject to subsection (f), a person has "notice" of a fact if the person:</span></p><p dir="ltr" class="s2073157Normal-000001"><span class="s2073157DefaultParagraphFont">(1)����Has actual knowledge of it;</span></p><p dir="ltr" class="s2073157Normal-000001"><span class="s2073157DefaultParagraphFont">(2)����Has received a notice or notification of it; or</span></p><p dir="ltr" class="s2073157Normal-000001"><span class="s2073157DefaultParagraphFont">(3)����From all the facts and circumstances known to the person at the time in question, has reason to know that it exists.</span></p><p dir="ltr" class="s2073157Normal-000002"><span class="s2073157DefaultParagraphFont">(b) "Knowledge" means actual knowledge. " Knows" has a corresponding meaning.</span></p><p dir="ltr" class="s2073157Normal-000002"><span class="s2073157DefaultParagraphFont">(c) "Discover," "learn," or words of similar import refer to knowledge rather than to reason to know.</span></p><p dir="ltr" class="s2073157Normal-000002"><span class="s2073157DefaultParagraphFont">(d) A person "notifies" or "gives" a notice or notification to another person by taking such steps as may be reasonably required to inform the other person in ordinary course, whether or not the other person actually comes to know of it.</span></p><p dir="ltr" class="s2073157Normal-000002"><span class="s2073157DefaultParagraphFont">(e) Subject to subsection (f), a person "receives" a notice or notification when:</span></p><p dir="ltr" class="s2073157Normal-000001"><span class="s2073157DefaultParagraphFont">(1)����It comes to that person's attention; or</span></p><p dir="ltr" class="s2073157Normal-000001"><span class="s2073157DefaultParagraphFont">(2)����It is duly delivered in a form reasonable under the circumstances at the place of business through which the contract was made or at another location held out by that person as the place for receipt of such communications.</span></p><p dir="ltr" class="s2073157Normal-000002"><span class="s2073157DefaultParagraphFont">(f) Notice, knowledge, or a notice or notification received by an organization is effective for a particular transaction from the time it is brought to the attention of the individual conducting that transaction and, in any event, from the time it would have been brought to the individual's attention if the organization had exercised due diligence. An organization exercises due diligence if it maintains reasonable routines for communicating significant information to the person conducting the transaction and there is reasonable compliance with the routines. Due diligence does not require an individual acting for the organization to communicate information unless the communication is part of the individual's regular duties or the individual has reason to know of the transaction and that the transaction would be materially affected by the information.</span></p><p dir="ltr" class="s2073157Normal"><span xml:space="preserve" class="s2073157000003"> </span></p><p dir="ltr" class="s2073157Normal"><span class="s2073157SCL">Source:</span><span xml:space="preserve" class="s2073157SCL-000004"> SL 2008, ch 259, ��10.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073158Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073158SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073158CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073158Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073158DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073158Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } p.s2073158Normal-000002 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } span.s2073158000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073158SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073158SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073158Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-203"><span class="s2073158SENU">57A-1-203</span></a><span xml:space="preserve" class="s2073158SENU">.�</span><span class="s2073158CL">Lease distinguished from security interest.</span></p><p dir="ltr" class="s2073158Normal-000000"><span class="s2073158DefaultParagraphFont">(a) Whether a transaction in the form of a lease creates a lease or security interest is determined by the facts of each case.</span></p><p dir="ltr" class="s2073158Normal-000001"><span class="s2073158DefaultParagraphFont">(b) A transaction in the form of a lease creates a security interest if the consideration that the lessee is to pay the lessor for the right to possession and use of the goods is an obligation for the term of the lease and is not subject to termination by the lessee, and:</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(1)����The original term of the lease is equal to or greater than the remaining economic life of the goods;</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(2)����The lessee is bound to renew the lease for the remaining economic life of the goods or is bound to become the owner of the goods;</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(3)����The lessee has an option to renew the lease for the remaining economic life of the goods for no additional consideration or for nominal additional consideration upon compliance with the lease agreement; or</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(4)����The lessee has an option to become the owner of the goods for no additional consideration or for nominal additional consideration upon compliance with the lease agreement.</span></p><p dir="ltr" class="s2073158Normal-000001"><span class="s2073158DefaultParagraphFont">(c) A transaction in the form of a lease does not create a security interest merely because:</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(1)����The present value of the consideration the lessee is obligated to pay the lessor for the right to possession and use of the goods is substantially equal to or is greater than the fair market value of the goods at the time the lease is entered into;</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(2)����The lessee assumes risk of loss of the goods;</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(3)����The lessee agrees to pay, with respect to the goods, taxes, insurance, filing, recording, or registration fees, or service or maintenance costs;</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(4)����The lessee has an option to renew the lease or to become the owner of the goods;</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(5)����The lessee has an option to renew the lease for a fixed rent that is equal to or greater than the reasonably predictable fair market rent for the use of the goods for the term of the renewal at the time the option is to be performed; or</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(6)����The lessee has an option to become the owner of the goods for a fixed price that is equal to or greater than the reasonably predictable fair market value of the goods at the time the option is to be performed.</span></p><p dir="ltr" class="s2073158Normal-000001"><span class="s2073158DefaultParagraphFont">(d) Additional consideration is nominal if it is less than the lessee's reasonably predictable cost of performing under the lease agreement if the option is not exercised. Additional consideration is not nominal if:</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(1)����When the option to renew the lease is granted to the lessee, the rent is stated to be the fair market rent for the use of the goods for the term of the renewal determined at the time the option is to be performed; or</span></p><p dir="ltr" class="s2073158Normal-000002"><span class="s2073158DefaultParagraphFont">(2)����When the option to become the owner of the goods is granted to the lessee, the price is stated to be the fair market value of the goods determined at the time the option is to be performed.</span></p><p dir="ltr" class="s2073158Normal-000001"><span class="s2073158DefaultParagraphFont">(e) The "remaining economic life of the goods" and "reasonably predictable" fair market rent, fair market value, or cost of performing under the lease agreement must be determined with reference to the facts and circumstances at the time the transaction is entered into.</span></p><p dir="ltr" class="s2073158Normal"><span xml:space="preserve" class="s2073158000003"> </span></p><p dir="ltr" class="s2073158Normal"><span class="s2073158SCL">Source:</span><span xml:space="preserve" class="s2073158SCL-000004"> SL 2008, ch 259, ��11.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sd8418afa4a86499da113c7eaffb1db97Normal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.sd8418afa4a86499da113c7eaffb1db97SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd8418afa4a86499da113c7eaffb1db97CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sd8418afa4a86499da113c7eaffb1db97Statute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sd8418afa4a86499da113c7eaffb1db97StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.sd8418afa4a86499da113c7eaffb1db97000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sd8418afa4a86499da113c7eaffb1db97NoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd8418afa4a86499da113c7eaffb1db97SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-1-204 - Value."><meta property="og:description" content="SDLRC Codified Law 57A-1-204 - Value."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-1-204"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="sd8418afa4a86499da113c7eaffb1db97Normal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-204" rel="noopener"><span class="sd8418afa4a86499da113c7eaffb1db97SENU">57A-1-204</span></a><span xml:space="preserve" class="sd8418afa4a86499da113c7eaffb1db97SENU">. </span><span class="sd8418afa4a86499da113c7eaffb1db97CL">Value.</span></p><p dir="ltr" class="sd8418afa4a86499da113c7eaffb1db97Statute"><span xml:space="preserve" class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">Except as otherwise provided in chapters </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-3" rel="noopener"><span class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">57A-3</span></a><span xml:space="preserve" class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-4" rel="noopener"><span class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">57A-4</span></a><span xml:space="preserve" class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-5" rel="noopener"><span class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">57A-5</span></a><span xml:space="preserve" class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-6" rel="noopener"><span class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">57A-6</span></a><span xml:space="preserve" class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-12" rel="noopener"><span class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">57A-12</span></a><span class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">, a person gives value for rights if the person acquires them:</span></p><p dir="ltr" class="sd8418afa4a86499da113c7eaffb1db97StatuteNumber1"><span class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">(1)����In return for a binding commitment to extend credit or for the extension of immediately available credit, whether or not drawn upon and whether or not a charge-back is provided for in the event of difficulties in collection;</span></p><p dir="ltr" class="sd8418afa4a86499da113c7eaffb1db97StatuteNumber1"><span class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">(2)����As security for, or in total or partial satisfaction of, a preexisting claim;</span></p><p dir="ltr" class="sd8418afa4a86499da113c7eaffb1db97StatuteNumber1"><span class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">(3)����By accepting delivery under a preexisting contract for purchase; or</span></p><p dir="ltr" class="sd8418afa4a86499da113c7eaffb1db97StatuteNumber1"><span class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont">(4)����In return for any consideration sufficient to support a simple contract.</span></p><p dir="ltr" class="sd8418afa4a86499da113c7eaffb1db97Normal"><span xml:space="preserve" class="sd8418afa4a86499da113c7eaffb1db97000000"> </span></p><p dir="ltr" class="sd8418afa4a86499da113c7eaffb1db97NoIndent"><span xml:space="preserve" class="sd8418afa4a86499da113c7eaffb1db97DefaultParagraphFont-000001">Source: </span><span class="sd8418afa4a86499da113c7eaffb1db97SCL">SL 2008, ch 259, ��12; SL 2024, ch 198, ��2.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073160Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073160SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073160CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073160Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073160DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073160Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073160000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073160SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073160SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073160Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-205"><span class="s2073160SENU">57A-1-205</span></a><span xml:space="preserve" class="s2073160SENU">.�</span><span class="s2073160CL">Reasonable time--Seasonableness.</span></p><p dir="ltr" class="s2073160Normal-000000"><span class="s2073160DefaultParagraphFont">(a) Whether a time for taking an action required by this title is reasonable depends on the nature, purpose, and circumstances of the action.</span></p><p dir="ltr" class="s2073160Normal-000001"><span class="s2073160DefaultParagraphFont">(b) An action is taken seasonably if it is taken at or within the time agreed or, if no time is agreed, at or within a reasonable time.</span></p><p dir="ltr" class="s2073160Normal"><span xml:space="preserve" class="s2073160000002"> </span></p><p dir="ltr" class="s2073160Normal"><span class="s2073160SCL">Source:</span><span xml:space="preserve" class="s2073160SCL-000003"> SL 2008, ch 259, ��13.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073161Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073161SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073161CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073161Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073161DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073161000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073161SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073161SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073161Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-206"><span class="s2073161SENU">57A-1-206</span></a><span xml:space="preserve" class="s2073161SENU">.�</span><span class="s2073161CL">Presumptions.</span></p><p dir="ltr" class="s2073161Normal-000000"><span class="s2073161DefaultParagraphFont">Whenever this title creates a "presumption" with respect to a fact, or provides that a fact is "presumed," the trier of fact must find the existence of the fact unless and until evidence is introduced that supports a finding of its nonexistence.</span></p><p dir="ltr" class="s2073161Normal"><span xml:space="preserve" class="s2073161000001"> </span></p><p dir="ltr" class="s2073161Normal"><span class="s2073161SCL">Source:</span><span xml:space="preserve" class="s2073161SCL-000002"> SL 2008, ch 259, ��14.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sc3a57f00d36b4d4c9fd3518eb8a5dc2bNormal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.sc3a57f00d36b4d4c9fd3518eb8a5dc2bSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc3a57f00d36b4d4c9fd3518eb8a5dc2bCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sc3a57f00d36b4d4c9fd3518eb8a5dc2bStatute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.sc3a57f00d36b4d4c9fd3518eb8a5dc2bDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sc3a57f00d36b4d4c9fd3518eb8a5dc2b000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sc3a57f00d36b4d4c9fd3518eb8a5dc2bNoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.sc3a57f00d36b4d4c9fd3518eb8a5dc2bDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc3a57f00d36b4d4c9fd3518eb8a5dc2bSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-1-207 - Central bank digital currency."><meta property="og:description" content="SDLRC Codified Law 57A-1-207 - Central bank digital currency."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-1-207"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="sc3a57f00d36b4d4c9fd3518eb8a5dc2bNormal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-207" rel="noopener"><span class="sc3a57f00d36b4d4c9fd3518eb8a5dc2bSENU">57A-1-207</span></a><span xml:space="preserve" class="sc3a57f00d36b4d4c9fd3518eb8a5dc2bSENU">. </span><span class="sc3a57f00d36b4d4c9fd3518eb8a5dc2bCL">Central bank digital currency.</span></p><p dir="ltr" class="sc3a57f00d36b4d4c9fd3518eb8a5dc2bStatute"><span class="sc3a57f00d36b4d4c9fd3518eb8a5dc2bDefaultParagraphFont">Nothing in SL 2024, ch 198 is intended or can be construed to create or adopt a central bank digital currency.</span></p><p dir="ltr" class="sc3a57f00d36b4d4c9fd3518eb8a5dc2bNormal"><span xml:space="preserve" class="sc3a57f00d36b4d4c9fd3518eb8a5dc2b000000"> </span></p><p dir="ltr" class="sc3a57f00d36b4d4c9fd3518eb8a5dc2bNoIndent"><span xml:space="preserve" class="sc3a57f00d36b4d4c9fd3518eb8a5dc2bDefaultParagraphFont-000001">Source: </span><span class="sc3a57f00d36b4d4c9fd3518eb8a5dc2bSCL">SL 2024, ch 198, ��3.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s5246c3f2a2f74b25a92f701060a33bfeNormal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s5246c3f2a2f74b25a92f701060a33bfeSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s5246c3f2a2f74b25a92f701060a33bfeCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s5246c3f2a2f74b25a92f701060a33bfeStatute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s5246c3f2a2f74b25a92f701060a33bfe000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s5246c3f2a2f74b25a92f701060a33bfeNoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s5246c3f2a2f74b25a92f701060a33bfeSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-1-301 - Territorial applicability--Parties' power to choose applicable law."><meta property="og:description" content="SDLRC Codified Law 57A-1-301 - Territorial applicability--Parties' power to choose applicable law."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-1-301"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeNormal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-301" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeSENU">57A-1-301</span></a><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeSENU">. </span><span class="s5246c3f2a2f74b25a92f701060a33bfeCL">Territorial applicability--Parties' power to choose applicable law.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">(1) Except as provided hereafter in this section, when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or of such other state or nation shall govern their rights and duties. Failing such agreement this title applies to transactions bearing an appropriate relation to this state.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">(2) Where one of the following provisions of this title specifies the applicable law, that provision governs and a contrary agreement is effective only to the extent permitted by the law (including the conflict of laws rules) so specified:</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Rights of creditors against sold goods. ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-402" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-2-402</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Applicability of the chapter on leases. ���</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-105" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-2A-105</span></a><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-106" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-2A-106</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Applicability of the chapters on bank deposits and collections. ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-4-102" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-4-102</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Governing law in the chapter on funds transfers. ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-4A-507" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-4A-507</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Letters of Credit. ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-5-116" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-5-116</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Applicability of the chapters on investment securities. ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-8-110" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-8-110</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Law governing perfection, the effect of perfection or nonperfection, and the priority of security interests and agricultural liens. ���</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-301" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-9-301</span></a><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-307" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-9-307</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeStatute"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">Law governing controllable electronic records. ��</span><a href="https://sdlegislature.gov/Statutes?Statute=57A-12-107" rel="noopener"><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">57A-12-107</span></a><span class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont">.</span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeNormal"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfe000000"> </span></p><p dir="ltr" class="s5246c3f2a2f74b25a92f701060a33bfeNoIndent"><span xml:space="preserve" class="s5246c3f2a2f74b25a92f701060a33bfeDefaultParagraphFont-000001">Source: </span><span class="s5246c3f2a2f74b25a92f701060a33bfeSCL">SL 2008, ch 259, ��15; SL 2024, ch 198, ��4.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073165Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073165SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073165CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073165Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073165DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073165Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073165000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073165SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073165SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073165Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-302"><span class="s2073165SENU">57A-1-302</span></a><span xml:space="preserve" class="s2073165SENU">.�</span><span class="s2073165CL">Variation by agreement.</span></p><p dir="ltr" class="s2073165Normal-000000"><span class="s2073165DefaultParagraphFont">(a) Except as otherwise provided in subsection (b) or elsewhere in this title, the effect of provisions of this title may be varied by agreement.</span></p><p dir="ltr" class="s2073165Normal-000001"><span class="s2073165DefaultParagraphFont">(b) The obligations of good faith, diligence, reasonableness, and care prescribed by this title may not be disclaimed by agreement. The parties, by agreement, may determine the standards by which the performance of those obligations is to be measured if those standards are not manifestly unreasonable. Whenever this title requires an action to be taken within a reasonable time, a time that is not manifestly unreasonable may be fixed by agreement.</span></p><p dir="ltr" class="s2073165Normal-000001"><span class="s2073165DefaultParagraphFont">(c) The presence in certain provisions of this title of the phrase "unless otherwise agreed," or words of similar import, does not imply that the effect of other provisions may not be varied by agreement under this section.</span></p><p dir="ltr" class="s2073165Normal"><span xml:space="preserve" class="s2073165000002"> </span></p><p dir="ltr" class="s2073165Normal"><span class="s2073165SCL">Source:</span><span xml:space="preserve" class="s2073165SCL-000003"> SL 2008, ch 259, ��16.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073166Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073166SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073166CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073166Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073166DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073166Normal-000001 { margin-top: 0; margin-bottom: 0; margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-right: 0; } p.s2073166Normal-000002 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073166000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073166SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073166SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073166Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-303"><span class="s2073166SENU">57A-1-303</span></a><span xml:space="preserve" class="s2073166SENU">.�</span><span class="s2073166CL">Course of performance, course of dealing, and usage of trade.</span></p><p dir="ltr" class="s2073166Normal-000000"><span class="s2073166DefaultParagraphFont">(a) A "course of performance" is a sequence of conduct between the parties to a particular transaction that exists if:</span></p><p dir="ltr" class="s2073166Normal-000001"><span class="s2073166DefaultParagraphFont">(1)����The agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and</span></p><p dir="ltr" class="s2073166Normal-000001"><span class="s2073166DefaultParagraphFont">(2)����The other party, with knowledge of the nature of the performance and opportunity for objection to it, accepts the performance or acquiesces in it without objection.</span></p><p dir="ltr" class="s2073166Normal-000002"><span class="s2073166DefaultParagraphFont">(b) A "course of dealing" is a sequence of conduct concerning previous transactions between the parties to a particular transaction that is fairly to be regarded as establishing a common basis of understanding for interpreting their expressions and other conduct.</span></p><p dir="ltr" class="s2073166Normal-000002"><span class="s2073166DefaultParagraphFont">(c) A "usage of trade" is any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question. The existence and scope of such a usage must be proved as facts. If it is established that such a usage is embodied in a trade code or similar record, the interpretation of the record is a question of law.</span></p><p dir="ltr" class="s2073166Normal-000002"><span class="s2073166DefaultParagraphFont">(d) A course of performance or course of dealing between the parties or usage of trade in the vocation or trade in which they are engaged or of which they are or should be aware is relevant in ascertaining the meaning of the parties' agreement, may give particular meaning to specific terms of the agreement, and may supplement or qualify the terms of the agreement. A usage of trade applicable in the place in which part of the performance under the agreement is to occur may be so utilized as to that part of the performance.</span></p><p dir="ltr" class="s2073166Normal-000002"><span class="s2073166DefaultParagraphFont">(e) Except as otherwise provided in subsection (f), the express terms of an agreement and any applicable course of performance, course of dealing, or usage of trade must be construed whenever reasonable as consistent with each other. If such a construction is unreasonable:</span></p><p dir="ltr" class="s2073166Normal-000001"><span class="s2073166DefaultParagraphFont">(1)����Express terms prevail over course of performance, course of dealing, and usage of trade;</span></p><p dir="ltr" class="s2073166Normal-000001"><span class="s2073166DefaultParagraphFont">(2)����Course of performance prevails over course of dealing and usage of trade; and</span></p><p dir="ltr" class="s2073166Normal-000001"><span class="s2073166DefaultParagraphFont">(3)����Course of dealing prevails over usage of trade.</span></p><p dir="ltr" class="s2073166Normal-000002"><span xml:space="preserve" class="s2073166DefaultParagraphFont">(f) Subject to ��</span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-2-209"><span class="s2073166DefaultParagraphFont">57A-2-209</span></a><span class="s2073166DefaultParagraphFont">, a course of performance is relevant to show a waiver or modification of any term inconsistent with the course of performance.</span></p><p dir="ltr" class="s2073166Normal-000002"><span class="s2073166DefaultParagraphFont">(g) Evidence of a relevant usage of trade offered by one party is not admissible unless that party has given the other party notice that the court finds sufficient to prevent unfair surprise to the other party.</span></p><p dir="ltr" class="s2073166Normal"><span xml:space="preserve" class="s2073166000003"> </span></p><p dir="ltr" class="s2073166Normal"><span class="s2073166SCL">Source:</span><span xml:space="preserve" class="s2073166SCL-000004"> SL 2008, ch 259, ��17.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073167Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073167SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073167CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073167Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073167DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073167000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073167SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073167SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073167Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-304"><span class="s2073167SENU">57A-1-304</span></a><span xml:space="preserve" class="s2073167SENU">.�</span><span class="s2073167CL">Obligation of good faith.</span></p><p dir="ltr" class="s2073167Normal-000000"><span class="s2073167DefaultParagraphFont">Every contract or duty within this title imposes an obligation of good faith in its performance and enforcement.</span></p><p dir="ltr" class="s2073167Normal"><span xml:space="preserve" class="s2073167000001"> </span></p><p dir="ltr" class="s2073167Normal"><span class="s2073167SCL">Source:</span><span xml:space="preserve" class="s2073167SCL-000002"> SL 2008, ch 259, ��18.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073168Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073168SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073168CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073168Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073168DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073168Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073168000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073168SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073168SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073168Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-305"><span class="s2073168SENU">57A-1-305</span></a><span xml:space="preserve" class="s2073168SENU">.�</span><span class="s2073168CL">Remedies to be liberally administered.</span></p><p dir="ltr" class="s2073168Normal-000000"><span class="s2073168DefaultParagraphFont">(a) The remedies provided by this title must be liberally administered to the end that the aggrieved party may be put in as good a position as if the other party had fully performed but neither consequential or special damages nor penal damages may be had except as specifically provided in this title or by other rule of law.</span></p><p dir="ltr" class="s2073168Normal-000001"><span class="s2073168DefaultParagraphFont">(b) Any right or obligation declared by this title is enforceable by action unless the provision declaring it specifies a different and limited effect.</span></p><p dir="ltr" class="s2073168Normal"><span xml:space="preserve" class="s2073168000002"> </span></p><p dir="ltr" class="s2073168Normal"><span class="s2073168SCL">Source:</span><span xml:space="preserve" class="s2073168SCL-000003"> SL 2008, ch 259, ��19.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s99876039dab44500bf139f4e9dfd674eNormal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s99876039dab44500bf139f4e9dfd674eSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s99876039dab44500bf139f4e9dfd674eCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s99876039dab44500bf139f4e9dfd674eStatute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s99876039dab44500bf139f4e9dfd674eDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s99876039dab44500bf139f4e9dfd674e000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s99876039dab44500bf139f4e9dfd674eNoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s99876039dab44500bf139f4e9dfd674eDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s99876039dab44500bf139f4e9dfd674eSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-1-306 - Waiver or renunciation of claim or right after breach."><meta property="og:description" content="SDLRC Codified Law 57A-1-306 - Waiver or renunciation of claim or right after breach."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-1-306"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s99876039dab44500bf139f4e9dfd674eNormal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-306" rel="noopener"><span class="s99876039dab44500bf139f4e9dfd674eSENU">57A-1-306</span></a><span xml:space="preserve" class="s99876039dab44500bf139f4e9dfd674eSENU">. </span><span class="s99876039dab44500bf139f4e9dfd674eCL">Waiver or renunciation of claim or right after breach.</span></p><p dir="ltr" class="s99876039dab44500bf139f4e9dfd674eStatute"><span class="s99876039dab44500bf139f4e9dfd674eDefaultParagraphFont">A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in a signed record.</span></p><p dir="ltr" class="s99876039dab44500bf139f4e9dfd674eNormal"><span xml:space="preserve" class="s99876039dab44500bf139f4e9dfd674e000000"> </span></p><p dir="ltr" class="s99876039dab44500bf139f4e9dfd674eNoIndent"><span xml:space="preserve" class="s99876039dab44500bf139f4e9dfd674eDefaultParagraphFont-000001">Source: </span><span class="s99876039dab44500bf139f4e9dfd674eSCL">SL 2008, ch 259, ��20; SL 2024, ch 198, ��5.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073170Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073170SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073170CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073170Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073170DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073170000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073170SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073170SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073170Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-307"><span class="s2073170SENU">57A-1-307</span></a><span xml:space="preserve" class="s2073170SENU">.�</span><span class="s2073170CL">Prima facie evidence by third-party documents.</span></p><p dir="ltr" class="s2073170Normal-000000"><span class="s2073170DefaultParagraphFont">A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice, or any other document authorized or required by the contract to be issued by a third party is prima facie evidence of its own authenticity and genuineness and of the facts stated in the document by the third party.</span></p><p dir="ltr" class="s2073170Normal"><span xml:space="preserve" class="s2073170000001"> </span></p><p dir="ltr" class="s2073170Normal"><span class="s2073170SCL">Source:</span><span xml:space="preserve" class="s2073170SCL-000002"> SL 2008, ch 259, ��21.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073171Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073171SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073171CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073171Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073171DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073171Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073171000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073171SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073171SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073171Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-308"><span class="s2073171SENU">57A-1-308</span></a><span xml:space="preserve" class="s2073171SENU">.�</span><span class="s2073171CL">Performance or acceptance under reservation of rights.</span></p><p dir="ltr" class="s2073171Normal-000000"><span class="s2073171DefaultParagraphFont">(a) A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by the other party does not thereby prejudice the rights reserved. Such words as "without prejudice," "under protest," or the like are sufficient.</span></p><p dir="ltr" class="s2073171Normal-000001"><span class="s2073171DefaultParagraphFont">(b) Subsection (a) does not apply to an accord and satisfaction.</span></p><p dir="ltr" class="s2073171Normal"><span xml:space="preserve" class="s2073171000002"> </span></p><p dir="ltr" class="s2073171Normal"><span class="s2073171SCL">Source:</span><span xml:space="preserve" class="s2073171SCL-000003"> SL 2008, ch 259, ��22.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073172Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073172SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073172CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073172Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073172DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073172000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073172SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073172SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2073172Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-309"><span class="s2073172SENU">57A-1-309</span></a><span xml:space="preserve" class="s2073172SENU">.�</span><span class="s2073172CL">Option to accelerate at will.</span></p><p dir="ltr" class="s2073172Normal-000000"><span class="s2073172DefaultParagraphFont">A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or when the party "deems itself insecure," or words of similar import, means that the party has power to do so only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the party against which the power has been exercised.</span></p><p dir="ltr" class="s2073172Normal"><span xml:space="preserve" class="s2073172000001"> </span></p><p dir="ltr" class="s2073172Normal"><span class="s2073172SCL">Source:</span><span xml:space="preserve" class="s2073172SCL-000002"> SL 2008, ch 259, ��23.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-1 - GENERAL PROVISIONS</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073173Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073173SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073173CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073173Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073173DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073173000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073173SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073173SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2073173Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1-310"><span class="s2073173SENU">57A-1-310</span></a><span xml:space="preserve" class="s2073173SENU">.�</span><span class="s2073173CL">Subordinated obligations.</span></p><p dir="ltr" class="s2073173Normal-000000"><span class="s2073173DefaultParagraphFont">An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest as against either the common debtor or a subordinated creditor.</span></p><p dir="ltr" class="s2073173Normal"><span xml:space="preserve" class="s2073173000001"> </span></p><p dir="ltr" class="s2073173Normal"><span class="s2073173SCL">Source:</span><span xml:space="preserve" class="s2073173SCL-000002"> SL 2008, ch 259, ��24.</span></p></div></body></html>