A promise to make a contribution or otherwise pay cash or transfer property to a limited liability company is enforceable only if the promise is:
(1) in writing; and
(2) signed by the person making the promise.
Tex. Bus. Orgs. Code § 101.151
REQUIREMENTS FOR ENFORCEABLE PROMISE
Applied in 1 court decision — leading case Sutapa Ghosh and Cinemawalla, Inc. v. Pawan Grover, M.D., 87 Minutes Production, L.L.C. and Pav Entertainment, L.L.C. (2013)
Most recently applied in Sutapa Ghosh and Cinemawalla, Inc. v. Pawan Grover, M.D., 87 Minutes Production, L.L.C. and Pav Entertainment, L.L.C. (August 2013)
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.