In Texas, the statute of limitations for breach of contract is four (4) years. The period begins from the day the contract was breached. Understanding the Texas breach of contract statute of limitations is critical for businesses and employees who believe an agreement has been violated. If you wait too long to bring a claim, the court may dismiss...
Continue Reading“An oral contract is as good as the paper it is written on.” This is simply not true in Texas. In fact, a Texas jury awarded $11 billion dollars in damages to Pennzoil when Texaco interfered with an oral contract for the sale of Getty Oil to Pennzoil, one of the largest jury verdicts in U.S. history. While it...
Continue ReadingWhat constitutes “usurpation of corporate opportunity”? There is no clear answer. However, an opinion by the Texarkana Court of Appeals is instructive. During merger negotiations, the company’s Chief Financial Officer (who was also a director and stockholder in the company) and another director/stockholder agreed that the CFO would waive an important provision in his employment contract in exchange for...
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