Practical Applications and a Survey of Cases: The DTPA and Oil and Gas

The powerful damages and other remedies of the DTPA should not be the exclusive theory of oil and gas litigation. The statutory provisions of the Uniform Commercial Code, the Fraud in Real Estate and Stock Transactions Act, and Texas and Federal Securities Acts should be used where applicable. In addition, the common law provides remedies for fraud, conversion, and breach of contract. Equity can create trusts and allow tracing and possible recovery of funds in personal accounts. Since promoter/investor relationships may involve a fiduciary arrangement, litigation for breach of fiduciary duty is also possible. Determined and careful counsel should not be at a loss for available remedies.