Louisiana Code of Civil Procedure 4265 – Compromise and modification of obligations
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Terms Used In Louisiana Code of Civil Procedure 4265
- 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.
With the approval of the court as provided in Article 4271, a tutor may compromise an action or right of action by or against the minor, or extend, renew, or in any manner modify the terms of an obligation owed by or to the minor.