I've seen houses in NY under contract not go to closing. An acceptance is not an acceptance if changes the terms of the offer.The seller stating verbally that they have accepted the offer does not make it binding. Requirements for a Valid Contract in Texas. A valid contract must have the following elements: An offer, Acceptance of the offer, This article gives basic information on contracts and the general rights and remedies under a contract. The second requirement for a valid contract is acceptance of the offer.