Accepting payment of the whole principal, as such, waives all claim to interest.
S.D. Codified Laws § 21-1-12
Acceptance of principal as waiver of interest
Applied in 2 court decisions — leading case Hogg v. Farmers Home Administration (In Re Hogg) (1987)
Most recently applied in South Dakota Public Utilities Commission v. Barzen International, Inc. (January 1992)
Source: CivC 1877, § 1945; CL 1887, § 4579; RCivC 1903, § 2291; RC 1919, § 1964; SDC 1939 & Supp 1960, § 37.1713.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.