Texas Business Organizations Code - Section 152.302. Binding Effect Of Partner's Action
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§ 152.302. BINDING EFFECT OF PARTNER'S ACTION. (a)
Unless a partner does not have authority to act for the partnership
in a particular matter and the person with whom the partner is
dealing knows that the partner lacks authority, an act of a partner,
including the execution of an instrument in the partnership name,
binds the partnership if the act is apparently for carrying on in
the ordinary course:
(1) the partnership business; or
(2) business of the kind carried on by the
partnership.
(b) An act of a partner that is not apparently for carrying
on in the ordinary course a business described by Subsection (a)
binds the partnership only if authorized by the other partners.
(c) A conveyance of real property by a partner on behalf of
the partnership not otherwise binding on the partnership binds the
partnership if the property has been conveyed by the grantee or a
person claiming through the grantee to be a holder for value without
knowledge that the partner exceeded that partner's authority in
making the conveyance.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 152.209 152.210 152.211 152.212 152.213 152.214 152.301 152.302 152.303 152.304 152.305 152.306 152.307 152.401 152.402
Last modified: August 11, 2007
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