1.201[3/4] – GENERAL DEFINITIONS. (a) Unless the context
Texas Business and Commerce Code § 1.201[3/4]
Summary
This section defines key terms used throughout the Texas Business and Commerce Code, including 'person' and 'present value'. It clarifies the legal entities and concepts that may be involved in commercial transactions and legal interpretations within the state.
Defines 'person' to include various legal entities.
Establishes the concept of 'present value' for future payments.
Affects all parties engaged in commercial transactions in Texas.
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In simple terms: Learn about Texas's GENERAL DEFINITIONS. (a) Unless the context law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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