152.504 – WITHDRAWN PARTNER'S POWER TO BIND PARTNERSHIP.
Texas Business Organizations Code § 152.504
Summary
This law allows a withdrawn partner to still bind the partnership to transactions for up to one year after their withdrawal, provided certain conditions are met. It primarily affects partnerships and their former partners, ensuring that business dealings can continue smoothly despite a partner's exit.
Withdrawn partners can bind the partnership for one year post-withdrawal.
Binding requires the other party to be unaware of the withdrawal.
The other party must have engaged with the partnership within the last year.
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In simple terms: Learn about Texas's WITHDRAWN PARTNER'S POWER TO BIND PARTNERSHIP. 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.