Louisiana Revised Statutes 10:4-111 – Prescription
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Terms Used In Louisiana Revised Statutes 10:4-111
- 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.
An action to enforce an obligation, duty, or right arising under this Chapter must be commenced within three years after the cause of action accrues.
Acts 1992, No. 1133, §4, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994.