Louisiana Civil Code 1822 – Third person bound for amount assumed
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Terms Used In Louisiana Civil Code 1822
- Contract: A legal written agreement that becomes binding when signed.
- 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.
A person who, by agreement with the obligor, assumes the obligation of the latter is bound only to the extent of his assumption.
The assuming obligor may raise any defense based on the contract by which the assumption was made.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.