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Terms Used In Louisiana Civil Code 1816

  • 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 there is only one obligor and only one obligee, a divisible obligation must be performed as if it were indivisible.

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