Alabama Code 41-16A-10. Reliance of grantor party on legal authority of entity
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Terms Used In Alabama Code 41-16A-10
- Contract: A legal written agreement that becomes binding when signed.
- Grantor: The person who establishes a trust and places property into it.
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
Any grantor party and each person claiming by, through, or under a grantor party may conclusively rely on the legal authority of a governmental entity to enter into an alternative financing contract and to perform the obligations of such governmental entity thereunder.