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COURSEVIEW, INCORPORATED v. PHILLIPS PETROLEUM CO.

No. A-6286.

312 S.W.2d 197 (1957)

COURSEVIEW, Incorporated, Petitioner, v. PHILLIPS PETROLEUM COMPANY, Respondent.

Supreme Court of Texas.

On Motion for Rehearing March 19, 1958.

Rehearing Denied April 30, 1958.

Attorney(s) appearing for the Case

Andrews, Kurth, Campbell & Bradley, and F. L. Andrews, James R. Drury and James W. Dilworth, Houston, for Courseview, Inc.

R. L. Foster and Harry D. Turner, Bartlesville, Okl., R. K. Batten and E. H. Brown, Vinson, Elkins, Weems & Searls and Tarlton Morrow, Houston, for Phillips Petroleum Co.

Woodul, Arterbury & Wren, Houston, for Mid-Coast Oil Co.

WALKER, Justice.

This is a controversy over the ownership and enforcement of purchase option rights under a contract executed in 1939 by Amos L. Beaty & Company, Inc., Victor H. Borsodi, and Phillips Petroleum Company. By the terms of the contract, Beaty and Borsodi assigned to Phillips some thirty-five oil, gas and mineral leases covering approximately 3,000 acres of land in Brazoria County known as the Chocolate Bayou Prospect, reserving to themselves one-fourth...

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