Sec. 56.057. ALLOCATION OF RISK PERMITTED. An obligor or a primary obligor may not prohibit a contingent payor from allocating risk by means of a contingent payment clause.
Added by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 4.001(a), eff. September 1, 2009.
Structure Texas Statutes
Title 4 - Business Opportunities and Agreements
Chapter 56 - Agreement for Payment of Construction Subcontractor
Subchapter B. Contingent Payment Clause
Section 56.051. Enforcement of Clause Prohibited to Extent Certain Contractual Obligations Not Met
Section 56.052. Enforcement of Clause Prohibited Following Notice From Contingent Payee
Section 56.053. Enforcement of Clause Prohibited if Existence of Sham Relationship
Section 56.054. Enforcement of Clause Prohibited if Unconscionable