Louisiana Revised Statutes 31:129 – Assignor or sublessor not relieved of obligations or liabilities unless discharged
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Terms Used In Louisiana Revised Statutes 31:129
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
An assignor or sublessor is not relieved of his obligations or liabilities under a mineral lease unless the lessor has discharged him expressly and in writing.
Acts 1974, No. 50, §129, eff. Jan. 1, 1975.