Tennessee Code 57-3-905 – Contracts in violation of part illegal and void
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Terms Used In Tennessee Code 57-3-905
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
Any contract, express or implied, made by any person, firm, or corporation in violation of any of the provisions of this part is declared to be an illegal and void contract and no recovery thereon shall be had.