Terms Used In Louisiana Civil Code 1970

  • 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.

When the expression of a cause in a contractual obligation is untrue, the obligation is still effective if a valid cause can be shown.

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