53-11-5. Restoration of everything of value by party rescinding.
The party rescinding a contract must restore to the other party everything of value which he has received from him under the contract, or must offer to restore the same, upon condition that such party shall do likewise, unless the latter is unable or positively refuses to do so.
Source: CivC 1877, §967, subdiv 2; CL 1887, §3591, subdiv 2; RCivC 1903, §1285, subdiv 2; RC 1919, §906 (2); SDC 1939, §10.0804 (2).