Louisiana Civil Code 3055 – Liability among co-sureties
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Terms Used In Louisiana Civil Code 3055
- 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.
Co-sureties are those who are sureties for the same obligation of the same obligor. They are presumed to share the burden of the principal obligation in proportion to their number unless the parties agreed otherwise or contemplated that he who bound himself first would bear the entire burden of the obligation regardless of others who thereafter bind themselves independently of and in reliance upon the obligation of the former.
Acts 1987, No. 409, §1, eff. Jan. 1, 1988.