Louisiana Civil Code 1884 – Security for extinguished obligation
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Terms Used In Louisiana Civil Code 1884
- 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.
Security given for the performance of the extinguished obligation may not be transferred to the new obligation without agreement of the parties who gave the security.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.