A valid contract in Texas requires offer, acceptance, consideration, and mutual assent. When one party fails to perform, the other may sue for breach of contract.
Damages Available
- Actual/direct damages — the value of what was promised
- Consequential damages — foreseeable losses caused by the breach
- Specific performance — court order to perform the contract
- Attorney's fees — available if the contract or statute allows
The statute of limitations for written contracts in Texas is 4 years.