The Texas Supreme Court handed a victory to Roxo Energy Co. in a dispute over the sale of mineral rights that the company had acquired for about $5 million, finding that supposed oral agreements didn’t prevent the resale and reversing a state appellate court.
In an interview with Law360, VKHH’s Rob Vartabedian, attorney for Roxo, said the lower court’s decision created a loophole under which a disgruntled party could challenge contracts by claiming previous oral agreements existed.
“This one was a win for those Texans who want their written contracts to be honored and enforced,” he said.
