South Dakota Contractor's Performance Bond with Limitation of Right of Action

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Multi-State
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US-1008BG
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Word; 
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Description

A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor.
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FAQ

§ 15-35-810. A judgment becomes a lien on real property for a period of 10 years. S.D. Codified Laws § 15-16-7.

(1)An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. (2)A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach.

In South Dakota, all misdemeanors carry a lengthy seven-year statute of limitations. Most felonies also have a seven-year statute of limitations. Class A, B, and C felonies do not have any statute of limitations.

Under the South Dakota statute of limitations for personal injury, you have three years from the date of the accident to file your lawsuit. While there are some exceptions (such as when you need to sue a government entity), that's the rule for most injury claims.

SOUTH DAKOTA A two-year statute of limitation applies to defamation actions.

South Dakota Civil Statutes of Limitations Injury to PersonThree years (S.D.C. § 15-2-14(3))Injury to Personal PropertySix years (S.D.C. § 15-2-13(4))Professional MalpracticeMedical: Two years (S.D.C. § 15-2-14.1) Legal: Three years (S.D.C. § 15-2-14.2) IRS Audit: Four years (S.D.C. § 15-2-14.4)7 more rows

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South Dakota Contractor's Performance Bond with Limitation of Right of Action