Obligations and Contracts – Obligations with a term

Obligations and Contracts – Obligations with a term

Art. 1777. Express or implied term. A term for the performance of an obligation may be express or it may be implied by the nature of the contract. Performance of an obligation not subject to a term is due immediately.

Art. 1778. Term for performance. A term for the performance of an obligation is a period of time either certain or uncertain. It is certain when it is fixed. It is uncertain when it is not fixed but is determinable either by the intent of the parties or by the occurrence of a future and certain event. It is also uncertain when it is not determinable, in which case the obligation must be performed within a reasonable time.

Art. 1785. Performance on term. Performance on term must be in accordance with the intent of the parties, or with established usage when the intent cannot be ascertained.