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Louisiana Civil Code Tit. XVI, Art. 3042. Commercial suretyship

Current as of January 01, 2023 | Updated by Findlaw Staff

A commercial suretyship is one in which:

(1) The surety is engaged in a surety business;

(2) The principal obligor or the surety is a business corporation, partnership, or other business entity;

(3) The principal obligation arises out of a commercial transaction of the principal obligor; or

(4) The suretyship arises out of a commercial transaction of the surety.

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Cite this article: FindLaw.com - Louisiana Civil Code Tit. XVI, Art. 3042. Commercial suretyship - last updated January 01, 2023 | https://codes.findlaw.com/la/civil-code/la-civ-code-tit-xvi-art-3042/

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