53-8-2. Contracts required to be in writing--Statute of frauds.
The following contracts are not enforceable by action unless the contract or some memorandum thereof is in writing and subscribed by the party to be charged or his agent, as authorized in writing:
(1)An agreement that by its terms is not to be performed within a year from the making thereof;
(2)An agreement made upon consideration of marriage, other than a mutual promise to marry;
(3)An agreement for sale of real estate or an interest therein, or lease of the same, for a period longer than one year. However, this does not abridge the power of any court to compel specific performance of any agreement for sale of real estate in case of part performance thereof; and
(4)An agreement for a loan of money or for an extension of credit, which agreement may be enforced by a beneficiary for whom the agreement was made, including, but not limited to, vendors of agricultural goods, services or products. A loan or an extension of credit made pursuant to §51A-12-12 or chapter 54-11 is specifically exempt from the provisions of this section.
Source: CivC 1877, §§920, 993; CL 1887, §§3544, 3617; RCivC 1903, §§1238, 1311; RC 1919, §§855, 856; SDC 1939, §10.0605; SL 1985, ch 381.
Structure South Dakota Codified Laws
Chapter 08 - Oral And Written Contracts
Section 53-8-1 - Contracts which may be oral.
Section 53-8-2 - Contracts required to be in writing--Statute of frauds.
Section 53-8-3 - Contract not in writing through fraud--Enforcement against fraudulent party.
Section 53-8-5 - Execution of contract in writing supersedes oral negotiations or stipulations.
Section 53-8-6 - Oral contract--Alteration in writing by consent of parties.
Section 53-8-7 - Alteration of written contract without new consideration.