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Terms Used In Texas Civil Practice and Remedies Code 37.001

  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

In this chapter, “person” means an individual, partnership, joint-stock company, unincorporated association or society, or municipal or other corporation of any character.