Chapter 16 of the Texas Civil Practice and Remedies Code specifies that there is a fouryear statute of limitations for breach of contract claims. How to accept When a party makes an offer for real estate, the acceptance must be in writing in order to comply with the Statute of Frauds.This article gives basic information on contracts and the general rights and remedies under a contract. There are four elements of a breach of contract claim: a valid contract, performance, breach, and damages. Read here to learn more. The second requirement for a valid contract is acceptance of the offer. Make an offer, Accept the offer, Accept financial consideration. Texas law does recognize some oral contracts. Generally, the elements of a legally enforceable contract are assent, a valid offer, acceptance, and consideration. For a contract to be deemed valid, it must have an offer, acceptance of the offer and consideration.