This law allows creditors of a limited partnership to enforce original obligations even after a compromise or release has been made, provided certain conditions are met. Specifically, the obligation must be documented and signed by the partner, and the document must remain unchanged.
Creditors can enforce obligations despite compromises.
Obligation must be documented and signed by the partner.
Document cannot be amended or canceled for enforcement.
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Explain Like I'm 5
In simple terms: Learn about Texas's ENFORCEABILITY OF OBLIGATION. (a) 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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