Terms Used In Louisiana Civil Code 3144

  • 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.

            Pledge is accessory to the obligation that it secures and may be enforced by the pledgee only to the extent that he may enforce the secured obligation.

            Acts 2014, No. 281, §1, eff. Jan. 1, 2015.

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