Where a contract does not determine the amount of the consideration nor the method by which it is to be ascertained or when it leaves the amount thereof to the discretion of an interested party, the consideration must be so much money as the object of the contract is reasonably worth.
S.D. Codified Laws § 53-6-11
Measure of consideration, ascertainment
Applied in 1 court decision — leading case SDIF Ltd. Partnership 6 v. Northern Beef Packers Ltd. Partnership (In re Northern Beef Packers Ltd. Partnership Tax ID/EIN 26-2530200) (2014)
Most recently applied in SDIF Ltd. Partnership 6 v. Northern Beef Packers Ltd. Partnership (In re Northern Beef Packers Ltd. Partnership Tax ID/EIN 26-2530200) (September 2014)
Source: CivC 1877, § 912; CL 1887, § 3536; RCivC 1903, § 1230; RC 1919, § 845; SDC 1939, § 10.0506.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.