AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES
Known as the Uniform Commercial Code
The act spans §§ 1–12 (616 sections).
Applied in 1 court decision — leading case Morgan Buildings & Spas, Inc v. Turn-Key Leasing, Ltd. (2003)
Most recently applied in Morgan Buildings & Spas, Inc v. Turn-Key Leasing, Ltd. (February 2003)
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff
(a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in Section 9.602 if the standards are not manifestly unreasonable.
(b) Subsection (a) does not apply to the duty under Section 9.609 to refrain from breaching the peace.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.