Louisiana Civil Code 2563 – Payment of price after expiration of term but prior to default
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Terms Used In Louisiana Civil Code 2563
- Contract: A legal written agreement that becomes binding when signed.
When the contract of sale of an immovable expressly provides for dissolution in case of failure to pay the price, the buyer still has the right to pay, in spite of the express dissolution clause, for as long as the seller has not given the buyer notice that he avails himself of that clause or has not filed suit for dissolution.
Acts 1993, No. 841, §1, eff. Jan. 1, 1995.