Louisiana Civil Code 2909 – Inability to demand performance until expiration of term
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Terms Used In Louisiana Civil Code 2909
- 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.
The lender may not demand from the borrower the performance of his obligation to return an equal amount of things of the same kind and quality before expiration of the term. In the absence of a certain term or of an agreement that performance will be exigible at will, a reasonable term is implied.
Acts 2004, No. 743, §1, eff. Jan. 1, 2005.