Section 53-11-4 - Rescission not effected by consent--Prompt action by party rescinding on discoveryof duress, undue influence, or disability.
53-11-4. Rescission not effected by consent--Prompt action by party rescinding on discovery of duress, undue influence, or disability. The party rescinding a contract must rescind promptly, upon discovering the facts which entitle him to rescind, if he is free from duress, undue influence, or disability, and is aware of his right to rescind.
Source: CivC 1877, § 967, subdiv 1; CL 1887, § 3591, subdiv 1; RCivC 1903, § 1285, subdiv 1; RC 1919, § 906 (1); SDC 1939, § 10.0804 (1).