Louisiana Civil Code 1823 – Assumption by agreement between obligee and third person
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Terms Used In Louisiana Civil Code 1823
- 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 obligee and a third person may agree on an assumption by the latter of an obligation owed by another to the former. That agreement must be made in writing. That agreement does not effect a release of the original obligor.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.