Texas Government Code 4008.060 – Costs; Attorney’s Fees
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(a) On rescission or as a part of damages under this subchapter, a buyer or a seller of a security shall also recover costs.
(b) On rescission or as a part of damages under this subchapter, a buyer or a seller of a security may also recover reasonable attorney’s fees if the court finds that the recovery is equitable under the circumstances.
Terms Used In Texas Government Code 4008.060
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.