23.10 – ASSIGNMENT DISCHARGES DEBTOR. If an assigning
Texas Business and Commerce Code § 23.10
Summary
This law states that when a debtor assigns their assets, they are released from liability to a consenting creditor, provided the creditor receives at least one-third of their claim. It primarily affects debtors and their creditors during the assignment process.
Debtors are discharged from liability upon assignment.
Creditors must receive at least one-third of their claim.
Consent from creditors is required for discharge to occur.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's ASSIGNMENT DISCHARGES DEBTOR. If an assigning law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.