Louisiana Civil Code 1405 – Sale of succession rights to coheir at risk of vendor, rescission inadmissible.
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Terms Used In Louisiana Civil Code 1405
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
The sale of successive rights by one heir to his coheir is not subject * to rescission, if the purchaser has run no risk; as, for example, if the vendor remains bound for the payment of the debts.
* Note error in English translation of French text; “is not subject” should be “is subject.”