Texas Business and Commerce Code 302.001 – Definitions
Terms Used In Texas Business and Commerce Code 302.001
- 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
- Personal property: All property that is not real property.
- Property: means real and personal property. See Texas Government Code 311.005
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
In this chapter:
(1) “Item” means property or a service. The term includes a coupon book to be used with a business.
(2) “Owner” means a person who has control of or is entitled to, by ownership or other claim, at least 10 percent of a seller’s net income.
(3) “Purchaser” means a person who:
(A) is solicited to become or becomes obligated for the purchase or rental of an item; or
(B) is offered an opportunity to claim or receive an item.
(4) “Salesperson” means a person who is employed or authorized by a seller to make a telephone solicitation.
(5) “Seller” means a person who makes a telephone solicitation on the person’s own behalf.
(6) “Supervised financial institution” means a bank, trust company, savings and loan association, credit union, industrial loan company, personal property broker, consumer finance lender, commercial finance lender, insurer, or other financial institution that is subject to supervision by an official or agency of this state or the United States.
(7) “Telephone solicitation” means a telephone call a seller or salesperson initiates to induce a person to purchase, rent, claim, or receive an item. The term includes a telephone call a purchaser makes in response to a solicitation sent by mail or made by any other means.