PRICE PAYABLE IN MONEY, GOODS, REALTY, OR OTHERWISE
Known as the Uniform Commercial Code
The act spans §§ 1–12 (616 sections).
Applied in 1 court decision — leading case Gunderland Marine Supply, Inc. v. Bray (1978)
Most recently applied in Gunderland Marine Supply, Inc. v. Bray (August 1978)
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff
(a) The price can be made payable in money or otherwise. If it is payable in whole or in part in goods each party is a seller of the goods which he is to transfer.
(b) Even though all or part of the price is payable in an interest in realty the transfer of the goods and the seller's obligations with reference to them are subject to this chapter, but not the transfer of the interest in realty or the transferor's obligations in connection therewith.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.