Louisiana Civil Code 1407 – Facts required to obtain rescission for lesion.
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Civil Code 1407
- 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 The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded.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.
This sale shall be subject to rescission, if it be proved that, at the time it was made, the purchaser alone knew the value of the succession, and permitted the vendor to remain in ignorance of it.