Can I be sued for breech of contract?

[lrouse]

What is the name of your state (only U.S. law)? Texas

I placed a bid for a job to finish construction on a metal building that was started by someone else. At the bottom of this bid is a section that says "Acceptance of Proposal", the above prices, specifications, and conditions are satisfactory are are hereby accepted. I signed the bottom of the bid and gave it to the guy I would be doing the work for. However, once working on the job for a week, I realized I can't do this job for the price. It would require alot more hours and workers to finish everything. I went back to the guy to tell him that I would need to increase the bid to be able to finish the job and he said he will sue me for breech of contract. He has already paid me for the work I completed the first week. No money is owed. I just want out of this job and be done with this guy. I can't lose money on a job or I would finish it. What can I do? Can he sue me if there is no money owed? Please help.

 

[j991]

Yes he can sue you. If you have already told him why you cannot complete the project you can walk away. However, if you signed a bid to complete tasks a, b, c, and d for x amount of money, and only completed tasks a, and b, then you failed to honor your bid. You can be sued for the amount that it takes a reasonable contractor to finish the job.