Contracts
In South Dakota, a 'release of contract' is different from 'cancellation' because a release:
AIs only signed by the seller
BFully releases all parties from all obligations under the contract and specifies disposition of earnest money✓ Correct
COnly releases one party from their obligations
DRequires SDREC approval to be effective
Explanation
A release (mutual release) is a document signed by all parties that fully terminates the contract, releases all claims, and specifies how earnest money is to be handled, providing a clean ending.
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