Obligations and Contracts – Obligations

Obligations and Contracts – Obligations

Art. 1906. Definition of contract. A contract is an agreement by two or more parties whereby obligations are created, modified, or extinguished.

Art. 1756. Obligations; definition. An obligation is a legal relationship whereby a person, called the obligor, is bound to render a performance in favor of another, called the obligee. Performance may consist of giving, doing, or not doing something.

Art. 1757. Sources of obligations. Obligations arise from contracts and other declarations of will. They also arise directly from the law, regardless of a declaration of will, in instances such as wrongful acts, the management of the affairs of another, unjust enrichment and other acts or facts.