Louisiana Civil Code 1964 – Damages
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Louisiana Civil Code 1964
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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 The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded.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.
When rescission is granted because of duress exerted or known by a party to the contract, the other party may recover damages and attorney fees.
When rescission is granted because of duress exerted by a third person, the parties to the contract who are innocent of the duress may recover damages and attorney fees from the third person.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.