Oil and Gas Partnership by Ambush: The Challenges of Disclaiming a Partnership or Joint Venture in Texas
ETP's landmark $535 million court victory over Enterprise earlier this year raises an important issue facing many Texas companies: Can companies effectively disclaim the existence of a joint venture or partnership—and the fiduciary obligations these relationships entail—or will Texas courts disregard the disclaimers and look to the parties’ course of conduct? This article provides a thorough examination of the ETP v. Enterprise jury verdict and the impact the case is having on businesses.