Texas Justices Say Contract Is King In $535M Pipeline Fight
Law360 (January 31, 2020, 10:18 PM EST) -- The Texas Supreme Court elevated written contracts between parties over the state's partnership law when it declined Friday to reinstate a $535 million judgment against Enterprise Products Partners LP over a soured pipeline development deal with Energy Transfer Partners LP.
The court said the Texas partnership statute doesn't trump or supersede written agreements, letting Lone Star State companies breathe a sigh of relief knowing they won't risk entering into an "accidental partnership" if they've agreed certain conditions must first be met to create a partnership. And the decision creates a higher bar for parties to argue such contractual conditions were waived,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!