Louisiana Cash Sale

A Cash Sale form is used to sell real property outright and frequently used to settle a "bond for deed", (sometimes referred to as a land contract) when it has been paid in full. Buyer and Seller agree that property will be delivered with all legal warranties as to title only.

Waiver of Warranties
Purchaser(s), relieve and release Seller(s) from any claims or causes of action for redhibition pursuant to Louisiana Civil Code Article 2520.
The described property is sold "AS IS" without warranties.
Furthermore purchaser(s) agree to waive any claims for reduction of sales price pursuant to Louisiana Civil Code Article 2541, et seq.
Additionally, Purchaser(s) acknowledge(s) that this sale is made without warranty of fitness for ordinary or particular use pursuant to Louisiana Civil Code Article 2524.

Section 2520 - Warranty against redhibitory defects
The seller warrants the buyer against redhibitory defects, or vices, in the thing sold.

A defect is redhibitory when it renders the thing useless, or its use so inconvenient that it must be presumed that a buyer would not have bought the thing had he known of the defect. The existence of such a defect gives a buyer the right to obtain rescission of the sale.

A defect is redhibitory also when, without rendering the thing totally useless, it diminishes its usefulness or its value so that it must be presumed that a buyer would still have bought it but for a lesser price. The existence of such a defect limits the right of a buyer to a reduction of the price.

Art. 2541. Reduction of the price
A buyer may choose to seek only reduction of the price even when the redhibitory defect is such as to give him the right to obtain rescission of the sale.

In an action for rescission because of a redhibitory defect the court may limit the remedy of the buyer to a reduction of the price.

Art. 2524. Thing fit for ordinary use
Universal Citation: LA Civ Code art. 2524 (2020)
The thing sold must be reasonably fit for its ordinary use.

When the seller has reason to know the particular use the buyer intends for the thing, or the buyer's particular purpose for buying the thing, and that the buyer is relying on the seller's skill or judgment in selecting it, the thing sold must be fit for the buyer's intended use or for his particular purpose.

If the thing is not so fit, the buyer's rights are governed by the general rules of conventional obligations.

(Louisiana Cash Sale Package includes form, guidelines, and completed example) For use in Louisiana only.