Louisiana Civil Code 2480 – Retention of possession by seller, presumption of simulation
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Terms Used In Louisiana Civil Code 2480
- Contract: A legal written agreement that becomes binding when signed.
When the thing sold remains in the corporeal possession of the seller the sale is presumed to be a simulation, and, where the interest of heirs and creditors of the seller is concerned, the parties must show that their contract is not a simulation.
Acts 1993, No. 841, §1, eff. Jan. 1, 1995.