Louisiana Civil Code 1925 – Noninterdicted person deprived of reason; protection of innocent contracting party by onerous title
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Terms Used In Louisiana Civil Code 1925
- Contract: A legal written agreement that becomes binding when signed.
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
A noninterdicted person, who was deprived of reason at the time of contracting, may obtain rescission of an onerous contract upon the ground of incapacity only upon showing that the other party knew or should have known that person’s incapacity.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.