Louisiana Civil Code 1909 – Onerous contracts
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Civil Code 1909
- 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 onerous when each of the parties obtains an advantage in exchange for his obligation.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.