La. Civ. Code art. 3037
This is the official text of La. Civ. Code art. 3037, part of Louisiana’s Civil Code — louisiana's civil law tradition codifies persons, property, obligations, and family relations here rather than in a separate statutory code.
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Surety ostensibly bound as a principal with another; effect of knowledge of the creditor
Official statutory text
One who ostensibly binds himself as a principal obligor to satisfy the present or future obligations of another is nonetheless considered a surety if the principal cause of the contract with the creditor is to guarantee performance of such obligations.
A creditor in whose favor a surety and principal obligor are bound together as principal obligors in solido may presume they are equally concerned in the matter until he clearly knows of their true relationship.
Acts 1987, No. 409, ยง1, eff. Jan. 1, 1988.
A creditor in whose favor a surety and principal obligor are bound together as principal obligors in solido may presume they are equally concerned in the matter until he clearly knows of their true relationship.
Acts 1987, No. 409, ยง1, eff. Jan. 1, 1988.
Status: in_force · Read it on the official government site
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