{"data":{"id":"us-tx/tex.-business-commerce-code-271.001","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 271.001","heading":"DEFINITION.","body":"In this chapter, \"qualified transaction\" means a transaction under which a party:\n(1) pays or receives, or is obligated to pay or is entitled to receive, consideration with an aggregate value of at least $1 million; or\n(2) lends, advances, borrows, or receives, or is obligated to lend or advance or is entitled to borrow or receive, money or credit with an aggregate value of at least $1 million.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.","path":["BUSINESS AND COMMERCE CODE","TITLE 9. APPLICABILITY OF LAW TO COMMERCIAL TRANSACTIONS","CHAPTER 271. RIGHTS OF PARTIES TO CHOOSE LAW APPLICABLE TO CERTAIN TRANSACTIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.271.htm#271.001","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"81f63c2c655296c38d7f670000993adfdcf0b1b00fd62902e97f50e68258c146","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-261.012","next":"us-tx/tex.-business-commerce-code-271.002"},"notice":"GroundRules: Original legal text. Not legal advice."}