Commutative Contract – at the time it is formed, the parties’ obligations and advantages are certain and determinate so that nonperformance by either affords a defense to the other

commutative contract:
(1827)

1. Civil law. A contract in which, at the time it is formed, the parties’ obligations and advantages are certain and determinate.  *  This definition applied in Louisiana law before the civil code was revised in 1984.

2. Louisiana law. A contract in which one party’s performance is correlative to the performance of the other, so that nonperformance by either affords a defense to the other. La. Civ. Code art. 1911.  Cf. independent contract; synallagmatic contract.

References:

Disclaimer: All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use.

[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4

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