Arturo Flores, Appellants v. Millennium Interests, Ltd., Appellees

Summary

The Texas Supreme Court answered two certified questions, holding that a seller who timely provides an annual statement but omits required information does not incur liquidated damages under §5.077(c) and that purchasers need not prove actual harm to recover such damages; the Court declined to address the third question. Justice BRISTER dissented, arguing the omissions should trigger damages and that the penalties are exemplary, while Justice WAINWRIGHT concurred, agreeing with the holdings but noting the lack of statutory limits on the penalty.