Louisiana Civil Code

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CHAPTER 10 - OF THE OBLIGATIONS OF THE BUYER

Art. 2549. The buyer is bound to pay the price and to take delivery of the thing. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2550. Payment of the price is due at the time and place stipulated in the contract, or at the time and place of delivery if the contract contains no such stipulation. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Arts. 2551-2552. [Reserved]

Art. 2553. The buyer owes interest on the price from the time it is due. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2554. [Reserved]

Art. 2555. A buyer who fails to take delivery of the thing after a tender of such delivery, or who fails to pay the price, is liable for expenses incurred by the seller in preservation of the thing and for other damages sustained by the seller. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2556. [Reserved]

Art. 2557. A buyer who is evicted by the claim of a third person may withhold payment of the price until he is restored to possession, unless the seller gives security for any loss the buyer may sustain as a result of the eviction.

A seller who, in such a case, is unable or unwilling to give security may compel the buyer to deposit the price with the court until the right of the third person is adjudged. Also the buyer may deposit the price with the court, on his own initiative, to prevent the accrual of interest.

A buyer may not withhold payment of the price when the seller is not liable for a return of the price in case of eviction. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Arts. 2558-2559. [Reserved]

Art. 2560. A buyer who paid the price before being evicted of the thing may not demand that the seller return the price or give security for it. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2561. If the buyer fails to pay the price, the seller may sue for dissolution of the sale. If the seller has given credit for the price and transfers that credit to another person, the right of dissolution is transferred together with the credit. In case of multiple credit holders all must join in the suit for dissolution, but if any credit holder refuses to join, the others may subrogate themselves to his right by paying the amount due to him.

If a promissory note or other instrument has been given for the price, the right to dissolution prescribes at the same time and in the same period as the note or other instrument. [Amended by Acts 1924, No. 108; [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2562. When an action is brought for the dissolution of the sale of an immovable and there is no danger that the seller may lose the price and the thing, the court, according to the circumstances, may grant the buyer an extension of time, not in excess of sixty days, to make payment, and shall pronounce the sale dissolved if the buyer fails to pay within that time. When there is such a danger, the court may not grant the buyer an extension of time for payment. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2563. When the contract of sale of an immovable expressly provides for dissolution in case of failure to pay the price, the buyer still has the right to pay, in spite of the express dissolution clause, for as long as the seller has not given the buyer notice that he avails himself of that clause or has not filed suit for dissolution. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2564. If the thing is movable and the seller chooses to seek judicial dissolution of the sale because of the failure of the buyer to perform, the court may not grant to the buyer any extension of time to perform. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Arts. 2565-2566. [Reserved]