Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

The parties may expressly agree that the contract shall be dissolved for the failure to perform a particular obligation.  In that case, the contract is deemed dissolved at the time it provides for or, in the absence of such a provision, at the time the obligee gives notice to the obligor that he avails himself of the dissolution clause.

Acts 1984, No. 331, §1, eff. Jan. 1, 1985.