Source: http://lcco.law.lsu.edu/?uid=81&amp;ver=en
Timestamp: 2017-09-24 21:11:38
Document Index: 463327244

Matched Legal Cases: ['Art. 2036', '§1', '§1', '§1', 'Art. 2037', '§1', '§1', '§1', 'Art. 2038', '§1', 'Art. 2039', '§1', 'Art. 2040', '§1', 'Art. 2041', '§1', '§1', 'Art. 2042', '§1', 'Art. 2043', '§1', 'Art. 2044', '§1']

CHAPTER 12 - REVOCATORY ACTION AND OBLIQUE ACTION
SECTION 1 - REVOCATORY ACTION
Art. 2036. An obligee has a right to annul an act of the obligor, or the result of a failure to act of the obligor, made or effected after the right of the obligee arose, that causes or increases the obligor's insolvency. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985; Acts 2003, No. 552, §1; Acts 2004, No. 447, §1]
Art. 2037. An obligor is insolvent when the total of his liabilities exceeds the total of his fairly appraised assets. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985; Acts 2003, No. 552, §1; Acts 2004, No. 447, §1]
Art. 2038. An obligee may annul an onerous contract made by the obligor with a person who knew or should have known that the contract would cause or increase the obligor's insolvency. In that case, the person is entitled to recover what he gave in return only to the extent that it has inured to the benefit of the obligor's creditors.
An obligee may annul an onerous contract made by the obligor with a person who did not know that the contract would cause or increase the obligor's insolvency, but in that case that person is entitled to recover as much as he gave to the obligor. That lack of knowledge is presumed when that person has given at least four-fifths of the value of the thing obtained in return from the obligor. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 2039. An obligee may attack a gratuitous contract made by the obligor whether or not the other party knew that the contract would cause or increase the obligor's insolvency. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 2040. An obligee may not annul a contract made by the obligor in the regular course of his business. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 2041. The action of the obligee must be brought within one year from the time he learned or should have learned of the act, or the result of the failure to act, of the obligor that the obligee seeks to annul, but never after three years from the date of that act or result. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
The three year period provided in this Article shall not apply in cases of fraud. [Acts 2013, No. 88, §1, eff. Aug. 1, 2013]
Art. 2042. In an action to annul either his obligor's act, or the result of his obligor's failure to act, the obligee must join the obligor and the third persons involved in that act or failure to act.
A third person joined in the action may plead discussion of the obligor's assets. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
Art. 2043. If an obligee establishes his right to annul his obligor's act, or the result of his obligor's failure to act, that act or result shall be annulled only to the extent that it affects the obligee's right. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]
SECTION 2 - OBLIQUE ACTION
Art. 2044. If an obligor causes or increases his insolvency by failing to exercise a right, the obligee may exercise it himself, unless the right is strictly personal to the obligor.
For that purpose, the obligee must join in the suit his obligor and the third person against whom that right is asserted. [Acts 1984, No. 331, §1, eff. Jan. 1, 1985]