Specific performance is a safeguard for buyers and sellers in case one of the parties chooses to back out of a real estate contract. In Texas, specific performance is not a cause of action, but it does provide an equitable remedy when a party breaches a real estate contract. Stafford v. S. Vanity Magazine, Inc., […]
Month: November 2021
How to Read a Title Commitment in Texas
A title commitment is a document provided to a buyer and a lender before closing on a property. It identifies the terms and conditions for a title company to provide title insurance as well as any issues, exclusions, or exceptions to coverage. Ultimately, the title commitment offers protection to both buyer and lender if a […]
Promissory Estoppel in Texas
Part of contract law, the doctrine of promissory estoppel enables a person or an entity to recover damages which result from relying on a promise that was made and later broken. Promissory estoppel is normally a defensive theory, but its use became a central focus in the case of Frost Crushed Stone Company, Inc., v. […]
Breach of Promissory Notes in Texas
A Promissory Note is a contract between a borrower and a lender. In the note, the borrower promises to repay the loan according to the terms of agreement specified within the note. If the borrower fails to repay the loan according to the agreed terms, the borrower may be liable for breach of note. To […]
Quantum Meruit in Texas
Business contracts exist to protect the rights of the parties involved, especially helpful if a business venture doesn’t go as planned. At times, however, a partnership exists without a formal contract. If all goes well, this informal arrangement creates no issue, but if things go poorly, a party who provides goods or services without a […]