53-6-8. Executory consideration--Determination of amount.
When a consideration is executory, it is not indispensable that the contract should specify its amount or the means of ascertaining it. It may be left to the decision of a third person or regulated by any specific standard.
Source: CivC 1877, §911; CL 1887, §3535; RCivC 1903, §1229; RC 1919, §844; SDC 1939, §10.0508.
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.