Louisiana Civil Code 1898 – Compensation between obligee and solidary obligor
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Terms Used In Louisiana Civil Code 1898
- 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.
Compensation between the obligee and one solidary obligor extinguishes the obligation of the other solidary obligors only for the portion of that obligor.
Compensation between one solidary obligee and the obligor extinguishes the obligation only for the portion of that obligee.
The compensation provided in this Article does not operate in favor of a liability insurer.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.