<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-2A-103 - Definitions and index of definitions.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s32f1c96b8dde49bb96565c0e2ea1516eNormal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s32f1c96b8dde49bb96565c0e2ea1516eSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s32f1c96b8dde49bb96565c0e2ea1516eCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber3 { margin-left: 1.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s32f1c96b8dde49bb96565c0e2ea1516e000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s32f1c96b8dde49bb96565c0e2ea1516eNoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s32f1c96b8dde49bb96565c0e2ea1516eSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-2A-103 - Definitions and index of definitions."><meta property="og:description" content="SDLRC Codified Law 57A-2A-103 - Definitions and index of definitions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-2A-103"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eNormal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-103" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eSENU">57A-2A-103</span></a><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eSENU">. </span><span class="s32f1c96b8dde49bb96565c0e2ea1516eCL">Definitions and index of definitions.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1) In this chapter unless the context otherwise requires:</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(a)    "Buyer in ordinary course of business" means a person who in good faith and without knowledge that the sale to him is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods buys in ordinary course from a person in the business of selling goods of that kind but does not include a pawnbroker. "Buying" may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a preexisting contract for sale but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(b)    "Cancellation" occurs when either party puts an end to the lease contract for default by the other party.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(c)    "Commercial unit" means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. A commercial unit may be a single article, as a machine, or a set of articles, as a suite of furniture or a line of machinery, or a quantity, as a gross or carload, or any other unit treated in use or in the relevant market as a single whole.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(d)    "Conforming" goods or performance under a lease contract means goods or performance that are in accordance with the obligations under the lease contract.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(e)    "Consumer lease" means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is a natural person and takes under the lease primarily for a personal, family, or household purpose.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(f)    "Fault" means wrongful act, omission, breach or default.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(g)    "Finance lease" means a lease in which (i) the lessor does not select, manufacture or supply the goods, (ii) the lessor acquires the goods or the right to possession and use of the goods in connection with the lease, and (iii) either (A) the lessee receives a copy of the contract evidencing the lessor's purchase of the goods on or before signing the lease contract, (B) the lessee's approval of the contract evidencing the lessor's purchase of the goods is a condition to effectiveness of the lease contract, (C) the lessor (aa) informs the lessee in writing of the identity of the supplier unless the lessee has selected the supplier and directed the lessor to purchase the goods from the supplier, (bb) informs the lessee in writing that the lessee may have rights under the contract evidencing the lessor's purchase of the goods, and (cc) advises the lessee in writing to contact the supplier for a description of any such rights, or (D) the lease contract discloses all warranties and other rights provided to the lessee by the lessor and supplier in connection with the lease contract and informs the lessee that there are no warranties or other rights provided to the lessee by the lessor and supplier other than those disclosed in the lease contract.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(h)    "Goods" means all things that are movable at the time of identification to the lease contract, or are fixtures (§ </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-309" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2A-309</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. The term also includes the unborn young of animals.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(h.1)    "Hybrid lease" means a single transaction involving a lease of goods and:</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber3"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(i)    The provision of services;</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber3"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(ii)    A sale of other goods; or</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber3"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(iii)    A sale, lease, or license of property other than goods.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(i)    "Installment lease contract" means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains a clause "each delivery is a separate lease" or its equivalent.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(j)    "Lease" means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. Unless the context clearly indicates otherwise, the term includes a sublease.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(k)    "Lease agreement" means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. Unless the context clearly indicates otherwise, the term includes a sublease agreement.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(l)    "Lease contract" means the total legal obligation that results from the lease agreement as affected by this chapter and any other applicable rules of law. Unless the context clearly indicates otherwise, the term includes a sublease contract.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(m)    "Leasehold interest" means the interest of the lessor or the lessee under a lease contract.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(n)    "Lessee" means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(o)    "Lessee in ordinary course of business" means a person who in good faith and without knowledge that the lease to him is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods leases in ordinary course from a person in the business of selling or leasing goods of that kind but does not include a pawnbroker. "Leasing" may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a preexisting lease contract but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(p)    "Lessor" means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(q)    "Lessor's residual interest" means the lessor's interest in the goods after expiration, termination or cancellation of the lease contract.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(r)    "Lien" means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(s)    "Lot" means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(t)    "Merchant lessee" means a lessee that is a merchant with respect to goods of the kind subject to the lease.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(u)    "Present value" means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain. The discount is determined by the interest rate specified by the parties if the rate was not manifestly unreasonable at the time the transaction was entered into; otherwise, the discount is determined by a commercially reasonable rate that takes into account the facts and circumstances of each case at the time the transaction was entered into.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(v)    "Purchase" includes taking by sale, lease, mortgage, security interest, pledge, gift or any other voluntary transaction creating an interest in goods.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(w)    "Sublease" means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(x)    "Supplier" means a person from whom a lessor buys or leases goods to be leased under a finance lease.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(y)    "Supply contract" means a contract under which a lessor buys or leases goods to be leased.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber2"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(z)    "Termination" occurs when either party pursuant to a power created by agreement or law puts an end to the lease contract otherwise than for default.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(2)    Other definitions applying to this chapter and the sections in which they appear are:</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Accessions." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-310" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2A-310</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Construction mortgage." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-309" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2A-309</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1)(d).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Encumbrance." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-309" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2A-309</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1)(e).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Fixtures." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-309" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2A-309</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1)(a).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Fixture filing." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-309" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2A-309</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1)(b).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Purchase money lease." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2A-309" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2A-309</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1)(c).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(3)    The following definitions apply to this chapter:</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Account." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-102" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-9-102</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(a)(2).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Between merchants." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-104" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2-104</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(3).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Buyer." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-103" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2-103</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1)(a).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Chattel paper." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-102" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-9-102</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(a)(11).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Consumer goods." </span><span lang="es-ES" xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">§ </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-102" rel="noopener"><span lang="es-ES" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-9-102</span></a><span lang="es-ES" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(a)(23).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span lang="es-ES" xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Document." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-102" rel="noopener"><span lang="es-ES" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-9-102</span></a><span lang="es-ES" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(a)(30).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Entrusting." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-403" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2-403</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(3).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"General intangible." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-102" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-9-102</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(a)(42).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Instrument." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-102" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-9-102</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(a)(47).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Merchant." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-104" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2-104</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Mortgage." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-102" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-9-102</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(a)(55).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Pursuant to commitment." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-102" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-9-102</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(a)(69).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Receipt." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-103" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2-103</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1)(c).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Sale." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-106" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2-106</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Sale on approval." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-326" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2-326</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1)(a).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Sale or return." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-326" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2-326</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1)(b).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">"Seller." § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-2-103" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-2-103</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(1)(d).</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eStatuteNumber1"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">(4)    In addition, chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-1" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-1</span></a><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont"> (commencing with § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-1-101" rel="noopener"><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">57A-1-101</span></a><span class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont">) contains general definitions and principles of construction and interpretation applicable throughout this chapter.</span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eNormal"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516e000000"> </span></p><p dir="ltr" class="s32f1c96b8dde49bb96565c0e2ea1516eNoIndent"><span xml:space="preserve" class="s32f1c96b8dde49bb96565c0e2ea1516eDefaultParagraphFont-000001">Source: </span><span class="s32f1c96b8dde49bb96565c0e2ea1516eSCL">SL 1989, ch 419, § 1; SL 1990, ch 390, § 1; SL 2000, ch 231, § 8; SL 2008, ch 259, § 28; SL 2009, ch 254, §§ 817, 818; SL 2024, ch 198, § 14.</span></p></div></body></html>