152.708 – CONTRIBUTIONS TO DISCHARGE OBLIGATIONS. (a)
Texas Business Organizations Code § 152.708
Summary
This law requires each partner in a partnership to contribute to cover partnership obligations based on their share of losses. It ensures that partners fulfill their financial responsibilities to creditors, except for certain liabilities agreed upon by creditors.
Partners must contribute based on their loss-sharing ratio.
Contributions are for satisfying partnership obligations.
Excludes liabilities agreed upon by creditors.
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 CONTRIBUTIONS TO DISCHARGE OBLIGATIONS. (a) 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.