Louisiana Civil Code 3255 – Order of payment when available movables insufficient.
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Terms Used In Louisiana Civil Code 3255
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
But when part of the movables are subject to special privileges, and the remainder of the movables are not sufficient to discharge the debts having a privilege on the whole mass of movables, or if there be equality* between the special privileges, the following rules shall direct the determination.
*In this context, the French word “concurrence” would be translated more properly by “competition” than by “equality.”