Louisiana Civil Code 1756 – Obligations; definition
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Terms Used In Louisiana Civil Code 1756
- 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.
An obligation is a legal relationship whereby a person, called the obligor, is bound to render a performance in favor of another, called the obligee. Performance may consist of giving, doing, or not doing something.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.