CC 1885 - Novation of solidary obligation - Louisiana Statutes

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Art. 1885. Novation of solidary obligation

A novation made by the obligee and one of the obligors of a solidary obligation releases the other solidary obligors.

In that case, the security given for the performance of the extinguished obligation may be retained by the obligee only on property of that obligor with whom the novation has been made.

If the obligee requires that the other co-obligors remain solidarily bound, there is no novation unless the co-obligors consent to the new obligation.

Acts 1984, No. 331, §1, eff. Jan. 1, 1985.

State Codes and Statutes

Statutes > Louisiana > Cc > Cc1885

Art. 1885. Novation of solidary obligation

A novation made by the obligee and one of the obligors of a solidary obligation releases the other solidary obligors.

In that case, the security given for the performance of the extinguished obligation may be retained by the obligee only on property of that obligor with whom the novation has been made.

If the obligee requires that the other co-obligors remain solidarily bound, there is no novation unless the co-obligors consent to the new obligation.

Acts 1984, No. 331, §1, eff. Jan. 1, 1985.

State Codes and Statutes

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State Codes and Statutes

Statutes > Louisiana > Cc > Cc1885

Art. 1885. Novation of solidary obligation

A novation made by the obligee and one of the obligors of a solidary obligation releases the other solidary obligors.

In that case, the security given for the performance of the extinguished obligation may be retained by the obligee only on property of that obligor with whom the novation has been made.

If the obligee requires that the other co-obligors remain solidarily bound, there is no novation unless the co-obligors consent to the new obligation.

Acts 1984, No. 331, §1, eff. Jan. 1, 1985.