Tex. Business & Commerce Code § 52.052

This is the official text of Tex. Business & Commerce Code § 52.052, part of Texas’s Business & Commerce Code — governs commercial transactions and general business practices.

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§ 52.052. BENEFICIARY OF BOND; CLAIM AGAINST BOND.

Official statutory text

(a) The bond required by Section 52.051 must be:

(1) in favor of this state; and

(2) for the benefit of any person who, after entering into a contract for invention development services with the invention developer, is damaged by fraud, dishonesty, or failure to provide the invention developer's services in performance of the contract.

(b) A person making a claim against the bond may bring an action against the invention developer and the surety. The aggregate liability of the surety to all persons for all breaches of conditions of the bond required by this section is limited to the amount of the bond.

Status: in_force · Read it on the official government site

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