Texas Business and Commerce Code 621.051 – Applicability of Subchapter
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Terms Used In Texas Business and Commerce Code 621.051
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
This subchapter applies to a person who uses a gift as part of an advertising plan or program.