59-8-2. Memorandum binding both parties.
52 words·~1 min read·
/sd/title-59/chapter-59-8/59-8-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.