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§ 54-1-1 Definition of terms--Debtor--Creditor.

SD Codified L § 54-1-1 (2019) (N/A)
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54-1-1. Definition of terms--Debtor--Creditor. Terms used in this chapter and chapter 54-8 are defined as follows, unless the context otherwise plainly requires:

(1) "Creditor," is one in whose favor an obligation exists by reason of which he is, or may become, entitled to the payment of money;

(2) "Debtor," one who, by reason of an existing obligation is, or may become liable to pay money to another, whether such liability is certain or contingent.Source: CivC 1877, §§ 2018, 2019; CL 1887, §§ 4651, 4652; RCivC 1903, §§ 2363, 2364; RC 1919, §§ 2036, 2037; SDC 1939, § 23.0101.

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§ 54-1-2 Loan of money defined.