Louisiana Civil Code 3147 – Pledge securing obligation that is not for the payment of money
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Terms Used In Louisiana Civil Code 3147
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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 pledge that secures an obligation other than one for the payment of money, such as an obligation for the performance of an act, secures the claim of the pledgee for the damages he may suffer from the breach of the obligation.
See Acts 2014, No. 281, §1.