Whenever a loan of money is made it is presumed to be made upon interest, unless it is otherwise expressly stipulated at the time in writing.
S.D. Codified Laws § 54-3-2
Loan of money--Presumption as to interest
Applied in 1 court decision — leading case Walkon Carpet Corporation v. Klapprodt (1975)
Most recently applied in Walkon Carpet Corporation v. Klapprodt (July 1975)
Source: CivC 1877, § 1094; CL 1887, § 3717; RCivC 1903, § 1413; RC 1919, § 1036; SDC 1939, § 38.0104.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.