South Dakota Law On Memorandum Binding Bidder And Seller

59-8-2. Memorandum binding both parties

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.

Cite as S.D. Codified Laws § 59-8-2