Terms Used In Texas Business Organizations Code Chapter 152 > Subchapter E - Relationship Between Partners and Other Persons

• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Business: means a trade, occupation, profession, or other commercial activity. See Texas Business Organizations Code 1.002
• Law: means , unless the context requires otherwise, both statutory and common law. See Texas Business Organizations Code 1.002
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Limited liability partnership: means a partnership governed as a limited liability partnership under Title 4. See Texas Business Organizations Code 1.002
• Month: means a calendar month. See Texas Government Code 312.011
• 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 interest: means a partner's interest in a partnership. 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
• Property: includes tangible and intangible property and an interest in that property. See Texas Business Organizations Code 1.002
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.