No. 93.

324 U.S. 1 (1945)


Supreme Court of United States.

Decided January 29, 1945.

Attorney(s) appearing for the Case

Mr. James H. Yeatman for petitioner.

Mr. Joseph S. Platt, with whom Solicitor General Fahy, Assistant Attorney General Samuel O. Clark, Jr., Messrs. Sewall Key and Warren F. Wattles were on the brief, for respondent.

MR. JUSTICE DOUGLAS delivered the opinion of the Court.

In 1936 Choate and Hogan, a partnership of which the petitioner was a member, acquired an oil and gas lease. They drilled six producing wells on the leased land and operated the property until August 1938. At that time they sold to Sylva Oil Co. for a cash consideration of $110,000 all their right, title and interest in the lease "together with all wells and the equipment...

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