Texas Business Organizations Code 152.307 – Extension of Credit in Reliance On False Representation
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(a) The rights of a person extending credit in reliance on a representation described by § 152.054 are determined by applicable law other than this chapter and the other partnership provisions, including the law of estoppel, agency, negligence, fraud, and unjust enrichment.
(b) The rights and duties of a person held liable under Subsection (a) are also determined by law other than the law described by Subsection (a).
Terms Used In Texas Business Organizations Code 152.307
- Fraud: Intentional deception resulting in injury to another.
- Law: means , unless the context requires otherwise, both statutory and common law. See Texas Business Organizations Code 1.002
- Person: means an individual or a corporation, partnership, limited liability company, business trust, trust, association, or other organization, estate, government or governmental subdivision or agency, or other legal entity, or a protected series or registered series of a domestic limited liability company or foreign entity. See Texas Business Organizations Code 1.002