Louisiana Code of Civil Procedure 3198 – Compromise and modification of obligations
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Terms Used In Louisiana Code of Civil Procedure 3198
- 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 succession representative may:
(1) Effect a compromise of an action or right of action by or against the succession; or
(2) Extend, renew, or in any manner modify the terms of any obligation owed by or to the succession.
Any action taken under this article must be approved by the court after notice as provided by Article 3229.