Section First: General Principles

Article 101

Article 101 - There is a suspended or term-bound obligation when the performance of the obligation is suspended until the term is realized. In the absence of a specified term or one resulting from the nature of the matter, immediate performance may be demanded.

Article 102

Article 102 - The term's deadline commences from the contract date, unless the parties or law have determined a different date; in obligations arising from a crime or quasi-crime, it starts from the judgment that liquidates the indemnity payable by the debtor.

Article 103

Article 103 - The day from which counting begins is not included in the term. The term calculated by number of days expires at the end of the last day of the term.

Article 104

Article 104 - When calculated by week, month or year, the due date occurs on the day that, in the week, month or year referred to, corresponds either by denomination or by ordinal number to the day of contract conclusion.

Article 105

Article 105 - When the due date falls on a legal public holiday, the due date is postponed to the next non-holiday day.

Article 106

Article 106 - The suspensive term is by right or by grace. It is by right when it is established by the deed from which the obligation arises or a subsequent act, or granted by law. It is by grace when it is awarded by the judge.

Article 107

Article 107 - The term of right is express or implied, depending on whether it is formally stipulated or results from the very nature of the obligation.

Article 108

Article 108 - The suspensive term renders the obligation not only non-enforceable but also unenforceable as long as it is not fulfilled; however, if the obligation has been performed, there is no room for repetition of the indulgence.

Article 109

Article 109 - The suspensive term is established in the interest of the debtor, unless the contrary results from the circumstances, the provisions of the act, its nature, or the law.

Article 110

Article 110: When the term is established in the common interest of both parties, it hinders the voluntary performance of the obligation by the debtor.

Article 111

Article 111 - The creditor at term may take all measures to preserve his rights, even before the due date; he may also request collateral or other security, or proceed by way of conservatory seizure, when he has justifiable reasons to fear the debtor's insolvency, bankruptcy, or flight.

Article 112

Article 112 - The party benefiting solely from the term may renounce it by a unilateral act of will.

Article 113

Art. 113 - The debtor who benefits from the term is deprived of this benefit: 1 - When they have gone bankrupt or are in a state of insolvency; 2 - When they have reduced, by their own actions, the special securities granted to the creditor by the act from which the obligation arises or by a subsequent act or by law. When the reduction of the special securities results from a cause independent of the debtor's will, the creditor has the right to demand additional securities or, failing that, the immediate execution of the obligation. 3 - When they fail to provide the creditor with the securities they had promised by contract.

Article 114

Article 114 - The death of the debtor brings to an end all his future obligations, except for secured claims backed by real securities.

Article 115

Article 115 - Unless a contrary legal provision applies, judges may, considering the debtor's position, if the debtor is in good faith, and exercising this power with great reserve, grant moderate delays for the performance of the obligation and order that execution be stayed, all things remaining as they are.

Article 116

Article 116: Unlike the term of law, the term of grace does not constitute an obstacle to compensation in the event it is applicable.