Section 54-1-3 - Debtor's contract valid in the absence of fraud

54-1-3. Debtor's contract valid in the absence of fraud.In the absence of fraud every contract of a debtor is valid against all his creditors, existing or subsequent, who have not acquired a lien on the property affected by such contract. Source: CivC 1877, §2020; CL 1887, §4653; RCivC 1903, §2365; RC 1919, §2038; SDC 1939, §23.0102.