In estimating damages except as provided by §§ 21-1-8 and 21-1-9 the value of property to an owner thereof deprived of its possession is deemed to be the price at which he might have bought an equivalent thing, in the market nearest to the place where the property ought to have been put into his possession and at such time after the breach of duty upon which his right to damages is founded as would suffice, with reasonable diligence, for him to make such a purchase.
S.D. Codified Laws § 21-1-7
Market value considered in estimating damages for deprivation of possession of property
Applied in 1 court decision — leading case DEADWOOD LODGE NO. 508, ETC. v. Albert (1982)
Most recently applied in DEADWOOD LODGE NO. 508, ETC. v. Albert (May 1982)
Source: CivC 1877, § 1980; CL 1887, § 4613; RCivC 1903, § 2325; RC 1919, § 1997; SDC 1939 & Supp 1960, § 37.1708.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.