A Corporation Chartered in Texas and Doing Business in Texas

question 167

True/False

A corporation chartered in Texas and doing business in Texas is known as a domestic corporation.

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Definitions:

Implied Warranty

An unwritten guarantee that a product will meet a minimum level of quality and functionality.

Code

A systematic collection of laws, regulations, or rules that govern a specific area of legal practice.

Express Warranty

A clearly stated promise from a seller regarding the condition, quality, or performance of the goods being sold.

Warranty of Merchantability

A promise, implied by law, that a product sold by a merchant is fit for the general purpose for which it is sold.