Louisiana Civil Code 1907 – Unilateral contracts
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Terms Used In Louisiana Civil Code 1907
- Contract: A legal written agreement that becomes binding when signed.
- 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.
A contract is unilateral when the party who accepts the obligation of the other does not assume a reciprocal obligation.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.