Louisiana Civil Code 1882 – Subjective novation
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Terms Used In Louisiana Civil Code 1882
- 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.
Novation takes place when a new obligor is substituted for a prior obligor who is discharged by the obligee. In that case, the novation is accomplished even without the consent of the prior obligor, unless he had an interest in performing the obligation himself.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.