Source: https://www.law.lsu.edu/index.cfm?geaux=lcco.home&v=en&u=065&anchor
Timestamp: 2014-03-08 19:44:21
Document Index: 728187877

Matched Legal Cases: ['Art. 1767', '§1', 'Art. 1768', '§1', 'Art. 1769', '§1', 'Art. 1770', '§1', 'Art. 1771', '§1', 'Art. 1772', '§1', 'Art. 1773', '§1', 'Art. 1774', '§1', 'Art. 1775', '§1', 'Art. 1776', '§1', 'Art. 1777', '§1', 'Art. 1778', '§1', 'Art. 1779', '§1', 'Art. 1780', '§1', 'Art. 1781', '§1', 'Art. 1782', '§1', 'Art. 1783', '§1', 'Art. 1784', '§1', 'Art. 1785', '§1']

SECTION 3 - CONDITIONAL OBLIGATIONS
Art. 1767. A conditional obligation is one dependent on an uncertain event.
If the obligation may not be enforced until the uncertain event occurs, the condition is suspensive.
If the obligation may be immediately enforced but will come to an end when the uncertain event occurs, the condition is resolutory. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1768. Conditions may be either expressed in a stipulation or implied by the law, the nature of the contract, or the intent of the parties. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1769. A suspensive condition that is unlawful or impossible makes the obligation null. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1770. A suspensive condition that depends solely on the whim of the obligor makes the obligation null.
A resolutory condition that depends solely on the will of the obligor must be fulfilled in good faith. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1771. The obligee of a conditional obligation, pending fulfillment of the condition, may take all lawful measures to preserve his right. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1772. A condition is regarded as fulfilled when it is not fulfilled because of the fault of a party with an interest contrary to the fulfillment. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1773. If the condition is that an event shall occur within a fixed time and that time elapses without the occurrence of the event, the condition is considered to have failed.
If no time has been fixed for the occurrence of the event, the condition may be fulfilled within a reasonable time.
Whether or not a time has been fixed, the condition is considered to have failed once it is certain that the event will not occur. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1774. If the condition is that an event shall not occur within a fixed time, it is considered as fulfilled once that time has elapsed without the event having occurred.
The condition is regarded as fulfilled whenever it is certain that the event will not occur, whether or not a time has been fixed. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1775. Fulfillment of a condition has effects that are retroactive to the inception of the obligation.
Nevertheless, that fulfillment does not impair the validity of acts of administration duly performed by a party, nor affect the ownership of fruits produced while the condition was pending. Likewise, fulfillment of the condition does not impair the right acquired by third persons while the condition was pending. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1776. In a contract for continuous or periodic performance, fulfillment of a resolutory condition does not affect the validity of acts of performance rendered before fulfillment of the condition. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
SECTION 4 - OBLIGATIONS WITH A TERM
Art. 1777. A term for the performance of an obligation may be express or it may be implied by the nature of the contract.
Performance of an obligation not subject to a term is due immediately. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1778. A term for the performance of an obligation is a period of time either certain or uncertain. It is certain when it is fixed. It is uncertain when it is not fixed but is determinable either by the intent of the parties or by the occurrence of a future and certain event. It is also uncertain when it is not determinable, in which case the obligation must be performed within a reasonable time. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1779. A term is presumed to benefit the obligor unless the agreement or the circumstances show that it was intended to benefit the obligee or both parties. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1780. The party for whose exclusive benefit a term has been established may renounce it. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1781. Although performance cannot be demanded before the term ends, an obligor who has performed voluntarily before the term ends may not recover the performance. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1782. When the obligation is such that its performance requires the solvency of the obligor, the term is regarded as nonexistent if the obligor is found to be insolvent. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1783. When the obligation is subject to a term and the obligor fails to furnish the promised security, or the security furnished becomes insufficient, the obligee may require that the obligor, at his option, either perform the obligation immediately or furnish sufficient security. The obligee may take all lawful measures to preserve his right. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1784. When the term for performance of an obligation is not marked by a specific date but is rather a period of time, the term begins to run on the day after the contract is made, or on the day after the occurrence of the event that marks the beginning of the term, and it includes the last day of the period. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 1785. Performance on term must be in accordance with the intent of the parties, or with established usage when the intent cannot be ascertained. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985] < Previous | Next >