§ 56.001 Definitions
§ 56.002 Inapplicability of Chapter to Certain Contracts
§ 56.003 Effect of Chapter On Timing of Payment Provisions
§ 56.004 Waiver of Chapter Prohibited

Terms Used In Texas Business and Commerce Code Chapter 56 > Subchapter A - General Provisions

  • Case law: The law as laid down in cases that have been decided in the decisions of the courts.
  • Contract: A legal written agreement that becomes binding when signed.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Property: means real and personal property. See Texas Government Code 311.005
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.