Louisiana Civil Code 2592 – Lesion, return of fruits by buyer and payment of interest by seller
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Terms Used In Louisiana Civil Code 2592
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
If the buyer elects to return the immovable he must also return to the seller the fruits of the immovable from the time a demand for rescission was made. In such a case, the seller must return to the buyer the price with interest from the same time.
If the buyer elects to keep the immovable he must also pay to the seller interest on the supplement from the time a demand for rescission was made.
Acts 1993, No. 841, §1, eff. Jan. 1, 1995.