21-1-7. Market value considered in estimating damages for deprivation of possession of property.
In estimating damages except as provided by §§21-1-8 and 21-1-9 the value of property to an owner thereof deprived of its possession is deemed to be the price at which he might have bought an equivalent thing, in the market nearest to the place where the property ought to have been put into his possession and at such time after the breach of duty upon which his right to damages is founded as would suffice, with reasonable diligence, for him to make such a purchase.
Source: CivC 1877, §1980; CL 1887, §4613; RCivC 1903, §2325; RC 1919, §1997; SDC 1939 & Supp 1960, §37.1708.
Structure South Dakota Codified Laws
Chapter 01 - Actions For Damages Generally
Section 21-1-1 - Right to damages for detriment from unlawful act or omission of another.
Section 21-1-2 - Nominal damages for breach of duty without detriment.
Section 21-1-3 - Damages to be reasonable.
Section 21-1-4 - Exemplary or penal damages only as provided--Interest on damages.
Section 21-1-4.1 - Discovery and trial of exemplary damage claims.
Section 21-1-6 - Market value considered in estimating damage to property.
Section 21-1-9 - Value of instrument presumed equal to value of property represented.
Section 21-1-10 - Damages awarded for detriment after commencement of action.
Section 21-1-12 - Acceptance of principal as waiver of interest.
Section 21-1-13.1 - Interest on damages--Prejudgment interest--Retroactive application.
Section 21-1-13.2 - Application of interest statutes.