Texas Business and Commerce Code 56.053 – Enforcement of Clause Prohibited If Existence of Sham Relationship
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Business and Commerce Code 56.053
- Property: means real and personal property. See Texas Government Code 311.005
A contingent payor or its surety may not enforce a contingent payment clause if the contingent payor is in a sham relationship with the obligor, as described by the sham relationships in Section 53.026, Property Code.