Louisiana Civil Code 3057 – Limitation upon right of contribution
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Louisiana Civil Code 3057
- 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.
A surety who pays the creditor more than his share may recover the excess from his co-sureties in proportion to the amount of the obligation each is to bear as to him. If a surety obtains the conventional discharge of other co-sureties by paying the creditor, any reduction in the amount owed by those released benefits them proportionately.
Acts 1987, No. 409, §1, eff. Jan. 1, 1988.