<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 59-8-2 - Memorandum binding both parties. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2077462Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2077462SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2077462CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2077462Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2077462DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2077462000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2077462SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2077462SCL-000002 { 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></head><body><div><p dir="ltr" class="s2077462Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=59-8-2"><span class="s2077462SENU">59-8-2</span></a><span xml:space="preserve" class="s2077462SENU">. </span><span class="s2077462CL">Memorandum binding both parties.</span></p><p dir="ltr" class="s2077462Normal-000000"><span class="s2077462DefaultParagraphFont">An auctioneer has authority from a bidder at the auction as well as from the seller to bind both by a memorandum wherever a written memorandum is required, by any statute or by usage, to make a valid contract of sale and such memorandum must be in the form and content prescribed.</span></p><p dir="ltr" class="s2077462Normal"><span xml:space="preserve" class="s2077462000001"> </span></p><p dir="ltr" class="s2077462Normal"><span class="s2077462SCL">Source:</span><span xml:space="preserve" class="s2077462SCL-000002"> CivC 1877, § 1386; CL 1887, § 4009; RCivC 1903, § 1705; RC 1919, § 1287; SDC 1939, § 3.0502.</span></p></div></body></html>