This post discusses one such deadlinethe one to file a motion to vacate or modify the award. (b) A party may revoke the agreement only on a ground that exists at law or in equity for the revocation of a contract.Acts 1965, 59th Leg. On what grounds may a court vacate an award under the FAA? The Federal Arbitration Act. Both federal and Texas state law favor arbitration as a method of dispute resolution. The Federal Arbitration Act and the similar Uniform Arbitration Act provide the grounds for review of an arbitration decision.