CC 2005 - Secondary obligation - Louisiana Statutes

SECTION 5. STIPULATED DAMAGES

Art. 2005. Secondary obligation

Parties may stipulate the damages to be recovered in case of nonperformance, defective performance, or delay in performance of an obligation.

That stipulation gives rise to a secondary obligation for the purpose of enforcing the principal one.

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