53-6-2. Legal or moral obligation as good consideration.
An existing legal obligation resting upon the promiser or a moral obligation originating in some benefit conferred upon the promiser or prejudice suffered by the promisee is also a good consideration for a promise to an extent corresponding with the extent of the obligation, but no further or otherwise.
Source: CivC 1877, §907; CL 1887, §3531; RCivC 1903, §1225; RC 1919, §840; SDC 1939, §10.0502.
Structure South Dakota Codified Laws
Chapter 06 - Consideration For Contracts
Section 53-6-1 - Good consideration, acts constituting.
Section 53-6-2 - Legal or moral obligation as good consideration.
Section 53-6-3 - Instrument as evidence of consideration.
Section 53-6-4 - Burden of proof to invalidate sufficient consideration.
Section 53-6-5 - Lawful consideration required.
Section 53-6-6 - Illegality of consideration, effect.
Section 53-6-8 - Executory consideration--Determination of amount.
Section 53-6-9 - Impossibility of ascertaining consideration, effect.