You are assisting in the negotiation and preparation of a contract for the purchase and sale of real property The seller of the property is a partnership composed of two partners The partners are XYZ Realty Company, also a Texas corporation, and ABC Realty Company, also a Texas corporation You have...

These are some of documents which require in a contract of sale Memorandum of Land Contract If you have created a land contract youll also need a memo ...

You are assisting in the negotiation and preparation of a contract for the purchase and sale of

Question:

You are assisting in the negotiation and preparation of a contract for the purchase and sale of real property. The seller of the property is a composed of two partners. The partners are XYZ Realty Company, also a Texas corporation, and ABC Realty Company, also a Texas corporation. You have been asked to obtain proper documentation to demonstrate that the seller has the authority to enter into the contract and will be bound by the terms of the contract. What documentation will you need?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...