54-1-2. Loan of money defined.
A loan of money is a contract by which one delivers a sum of money to another, and the latter agrees to return at a future time a sum equivalent to that which he borrowed.
Source: CivC 1877, §1092; CL 1887, §3715; RCivC 1903, §1411; RC 1919, §1034; SDC 1939, §38.0101.
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 01 - Definitions And General Provisions
Section 54-1-1 - Definition of terms--Debtor--Creditor.
Section 54-1-2 - Loan of money defined.
Section 54-1-3 - Debtor's contract valid in the absence of fraud.
Section 54-1-4 - Preference of creditors by debtor.
Section 54-1-5 - Marshaling of funds--Rights of creditor.
Section 54-1-6 - "Open account" defined.
Section 54-1-7 - Open account--Interest rates.
Section 54-1-8 - Open account--Notice of interest rate increase.