Texas Business and Commerce Code 22.003 – Contracts Concerning Sale
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Terms Used In Texas Business and Commerce Code 22.003
- Contract: A legal written agreement that becomes binding when signed.
- Trustee: A person or institution holding and administering property in trust.
A trustee or substitute trustee conducting a sale to which this chapter applies may contract with:
(1) an attorney to advise the trustee or substitute trustee or to administer or perform any of the trustee’s or substitute trustee’s functions or responsibilities under a security instrument or this chapter; or
(2) an auction company to arrange, manage, sponsor, or advertise a public sale.