20-7-3. Acceptance of accord as satisfaction--Obligation extinguished.Acceptance by the creditor, of the consideration of an accord, extinguishes the obligation and is called satisfaction. Source: CivC 1877, §861; CL 1887, §3485; RCivC 1903, §1179; RC 1919, §786; SDC 1939, §47.0235.
South Dakota Legal Code