Further the terms of the mortgage contract clearly state that the onus is on the borrower to procure flood insurance. Under Louisiana law, one who signs a contract is presumed to know its terms. See Tweedel v. Brasseaux, 433 So. 2d 133, 138 (La. 1983); Brown v. Simoneaux, 593 So. 2d 939, 940-41 (La.App. 4 Cir. 1992); Johnson v. Orkin Exterminating Co., 746 F. Supp. 627, 632-33 (E.D. La. 1990). Plaintiffs could not have justifiably relied on a representation by the Defendant to procure insurance.
Having signed off on all of Mr. Hebert's reports, Mr. Harvey is legally presumed to have read and understood its contents. See , e.g ., Brown v. Simoneaux , 593 So.2d 939, 941 (La. App. 4 Cir. 1992) ("[a]n individual who signs a written instrument is charged with the responsibility of having read it and is presumed to know and understand its contents"); Guimmo v. Albarado , 99-286, p. 7 (La. App. 5 Cir. 7/27/99), 739 So.2d 973, 976 ("when a party signs papers they are presumed to know the contents of those papers.").
The Louisiana Civil Code expressly provides that a transaction or compromise between two or more parties, who by mutual consent adjust their differences to prevent or resolve a lawsuit, carries force equal to the authority of adjudicated disputes. La.C.C. art. 3071; Brown v. Simoneaux, 593 So.2d 939 (La.App. 4 Cir. 1992). The subsequent discovery by a claimant that an injury was more serious than initially believed does not entitle the claimant to rescind the settlement and release agreement.
The Louisiana Civil Code expressly provides that a transaction or compromise between two or more parties, who by mutual consent adjust their differences to prevent or resolve a lawsuit, carries force equal to the authority of adjudicated disputes. La.C.C. art. 3071; Brown v. Simoneaux, 593 So.2d 939 (La.App. 4 Cir. 1992). The subsequent discovery by a claimant that an injury was more serious than initially believed does not entitle the claimant to rescind the settlement and release agreement.