R.S. 9:5807

Interruption of prescription on pledged obligations by payment on obligation secured by pledge ACTIVE

A payment by a debtor of interest or principal of an obligation shall constitute an acknowledgement of all other obligations including promissory notes of such debtor or his codebtors in solido pledged by the debtor or his codebtors in solido to secure the obligation as to which payment is made. In all cases the party claiming an interruption of prescription of such pledged obligation including a promissory note as a result of such acknowledgement shall have the burden of proving all of the elements necessary to establish the same. For purposes of this Section, a "pledged obligation" shall include any obligation, including a promissory note, in which a security interest has been granted under Chapter 9 of the Louisiana Commercial Laws or the corresponding provisions of the Uniform Commercial Code as adopted in any other state, to the extent applicable.

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References

None.

Cited by

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History

  • enactment Acts 1991, No. 377, §3, eff. Jan. 1, 1992

Section navigation

Cite R.S. 9:5807

Bluebook
La. Rev. Stat. Ann. § 9:5807 (2026).
Permalink
https://theusufruct.com/rs/title-9/section-5807
BibTeX
@misc{larevstat-9-5807,
  title        = {La. Rev. Stat. Ann. § 9:5807},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-9/section-5807},
  note         = {Snapshot 2026-05-22}
}