Louisiana Civil Code 1993 – Reciprocal obligations
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Terms Used In Louisiana Civil Code 1993
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
In case of reciprocal obligations, the obligor of one may not be put in default unless the obligor of the other has performed or is ready to perform his own obligation.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.