ABERCROMBIE v. DAVIES


130 A.2d 338 (1957)

James S. ABERCROMBIE, Phillips Petroleum Company, a corporation, and Sunray Oil Corporation, a corporation, Appellants, v. Ralph K. DAVIES, Signal Oil and Gas Company, a corporation, The Hancock Oil Company, a corporation, The Globe Oil and Refining Company, a corporation, Lario Oil and Gas Company, a corporation, Ashland Oil and Refining Company, a corporation, Deep Rock Oil Corporation, a corporation, Samuel B. Mosher, Garth L. Young, John W. Hancock, J. Howard Marshall, Harold A. Black, Francis L. Jehle, Rexford S. Blazer, Sandford M. Burnham, American Independent Oil Company, a corporation, and Security First National Bank of Los Angeles, California, a corporation, Appellees. Ralph K. DAVIES, Signal Oil and Gas Company, a corporation, The Hancock Oil Company, a corporation, The Globe Oil and Refining Company, a corporation, Lario Oil and Gas Company, a corporation, Samuel B. Mosher, Garth L. Young, John W. Hancock, Harold A. Black, Francis L. Jehle, Jr., and J. Howard Marshall, Appellants, v. James S. ABERCROMBIE, Phillips Petroleum Corporation, a corporation, and Sunray Oil Corporation, a corporation, Appellees.

Supreme Court of Delaware.

March 19, 1957.


Attorney(s) appearing for the Case

John J. Morris, Jr., Wilmington (Joseph W. Moore, Houston, Tex., of counsel), for appellant and cross-appellee James S. Abercrombie.

Robert H. Richards, Jr., and Stephen E. Hamilton, Jr., Wilmington, for appellants and cross-appellees Phillips Petroleum Co. and Sunray Oil Corp.

Richard F. Corroon and David F. Anderson of Berl, Potter & Anderson, Wilmington, and Francis M. Shea of Shea, Greenman, Gardner & McConnaughey, Washington, D. C., for appellees and cross-appellants Ralph K. Davies, Signal Oil and Gas Co., The Hancock Oil Co., The Globe Oil and Refining Co., Lario Oil and Gas Co., Samuel B. Mosher, Garth L. Young, John W. Hancock, Harold A. Black, Francis L. Jehle, Jr., and J. Howard Marshall.

SOUTHERLAND, C. J., and LAYTON and HERRMANN, Judges, sitting.


SOUTHERLAND, Chief Justice.

The pertinent facts are as follows:

American Independent Oil Company ("American") is a Delaware corporation. It was formed to develop an oil concession in the Kuwait-Saudi Arabian neutral zone. The organizers were James S. Abercrombie, Sunray Oil Corporation ("Sunray"), Phillips Petroleum Company ("Phillips"), Ralph K. Davies, Signal Oil and Gas Company ("Signal"), The Hancock Oil Company...

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