§ 152.051 Partnership Defined
§ 152.052 Rules for Determining If Partnership Is Created
§ 152.053 Qualifications to Be Partner; Nonpartner’s Liability to Third Person
§ 152.054 False Representation of Partnership or Partner
§ 152.055 Authority of Certain Professionals to Create Partnership
§ 152.0551 Partnerships Formed by Physicians and Physician Assistants
§ 152.056 Partnership as Entity

Terms Used In Texas Business Organizations Code Chapter 152 > Subchapter B - Nature and Creation of Partnership

  • Association: means an entity governed as an association under Title 6 or 7. See Texas Business Organizations Code 1.002
  • Business: means a trade, occupation, profession, or other commercial activity. See Texas Business Organizations Code 1.002
  • Contract: A legal written agreement that becomes binding when signed.
  • Entity: means a domestic entity or foreign entity. See Texas Business Organizations Code 1.002
  • General partner: means :
    (A) each partner in a general partnership; or
    (B) a person who has become, and has not ceased to be, a general partner in a limited partnership in accordance with the governing documents of the limited partnership or this code. See Texas Business Organizations Code 1.002
  • Individual: means a natural person. See Texas Business Organizations Code 1.002
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Law: means , unless the context requires otherwise, both statutory and common law. See Texas Business Organizations Code 1.002
  • License: means a license, certificate of registration, or other legal authorization. See Texas Business Organizations Code 1.002
  • Organization: means a corporation, limited or general partnership, limited liability company, business trust, real estate investment trust, joint venture, joint stock company, cooperative, association, bank, insurance company, credit union, savings and loan association, or other organization, regardless of whether the organization is for-profit, nonprofit, domestic, or foreign. See Texas Business Organizations Code 1.002
  • Ownership interest: means an owner's interest in an entity. See Texas Business Organizations Code 1.002
  • Partner: means a limited partner or general partner. See Texas Business Organizations Code 1.002
  • Partnership: means an entity governed as a partnership under Title 4. See Texas Business Organizations Code 1.002
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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
  • Professional service: has the meaning assigned by § 301. See Texas Business Organizations Code 1.002
  • Property: includes tangible and intangible property and an interest in that property. See Texas Business Organizations Code 1.002
  • Rule: includes regulation. See Texas Government Code 311.005
  • Share: means a unit into which the ownership interest in a for-profit corporation, professional corporation, real estate investment trust, or professional association is divided, regardless of whether the share is certificated or uncertificated. See Texas Business Organizations Code 1.002
  • Statute: A law passed by a legislature.
  • sworn: includes affirm or affirmed. See Texas Government Code 312.011
  • Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
  • Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent