Louisiana Civil Code 1990 – Obligor put in default by arrival of term
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Terms Used In Louisiana Civil Code 1990
- 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.
When a term for the performance of an obligation is either fixed, or is clearly determinable by the circumstances, the obligor is put in default by the mere arrival of that term. In other cases, the obligor must be put in default by the obligee, but not before performance is due.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.