Sec. 16.070. CONTRACTUAL LIMITATIONS PERIOD. (a) Except as provided by Subsection (b), a person may not enter a stipulation, contract, or agreement that purports to limit the time in which to bring suit on the stipulation, contract, or agreement to a period shorter than two years. A stipulation, contract, or agreement that establishes a limitations period that is shorter than two years is void in this state.
(b) This section does not apply to a stipulation, contract, or agreement relating to the sale or purchase of a business entity if a party to the stipulation, contract, or agreement pays or receives or is obligated to pay or entitled to receive consideration under the stipulation, contract, or agreement having an aggregate value of not less than $500,000.
Acts 1985, 69th Leg., ch. 959, Sec. 1, eff. Sept. 1, 1985. Amended by Acts 1991, 72nd Leg., ch. 840, Sec. 2, eff. Aug. 26, 1991.
Structure Texas Statutes
Civil Practice and Remedies Code
Title 2 - Trial, Judgment, and Appeal
Subchapter D. Miscellaneous Provisions
Section 16.061. Rights Not Barred
Section 16.062. Effect of Death
Section 16.063. Temporary Absence From State
Section 16.064. Effect of Lack of Jurisdiction
Section 16.065. Acknowledgment of Claim
Section 16.066. Action on Foreign Judgment
Section 16.067. Claim Incurred Prior to Arrival in This State
Section 16.069. Counterclaim or Cross Claim
Section 16.070. Contractual Limitations Period