53-6-7. Executed or executory consideration, effect. A consideration may be executed or executory in whole or in part. In so far as it is executory, it is subject to the provisions of the statutes relating to object of contract.
Source: CivC 1877, § 910; CL 1887, § 3534; RCivC 1903, § 1228; RC 1919, § 843; SDC 1939, § 10.0507.
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