Louisiana Civil Code 1821 – Assumption by agreement between obligor and third person
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Terms Used In Louisiana Civil Code 1821
- 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 obligor and a third person may agree to an assumption by the latter of an obligation of the former. To be enforceable by the obligee against the third person, the agreement must be made in writing.
The obligee’s consent to the agreement does not effect a release of the obligor.
The unreleased obligor remains solidarily bound with the third person.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.