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Terms Used In Louisiana Civil Code 1949

  • 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.

Error vitiates consent only when it concerns a cause without which the obligation would not have been incurred and that cause was known or should have been known to the other party.

Acts 1984, No. 331, §1, eff. Jan. 1, 1985.