153.202 – ENFORCEABILITY OF PROMISE TO MAKE CONTRIBUTION.
Texas Business Organizations Code § 153.202
Summary
This law requires that any promise made by a limited partner to contribute cash or property to a limited partnership must be documented in writing and signed. This ensures clarity and enforceability of such promises, protecting the interests of all parties involved.
Promises to contribute must be in writing and signed.
Applies specifically to limited partners in a partnership.
Ensures enforceability of contributions to the partnership.
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In simple terms: Learn about Texas's ENFORCEABILITY OF PROMISE TO MAKE CONTRIBUTION. 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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