WOODSON v. LEE

No. 7277.

389 P.2d 196 (1963)

73 N.M. 425

Katherine McMillen WOODSON and Sheila Rodey Faust, Plaintiffs-Appellees, v. Floyd W. LEE and Fernandez Company, a corporation, Defendants-Appellants.

Supreme Court of New Mexico.

Rehearing Denied February 27, 1964.


Attorney(s) appearing for the Case

Modrall, Seymour, Sperling, Roehl & Harris, Marron & Houk, Albuquerque, for appellants.

Rodey, Dickason, Sloan, Akin & Robb, William C. Briggs, Albuquerque, for appellees.


MOISE, Justice.

Plaintiffs brought suit herein to collect from defendants a pro rata share of $257,334.90 of mineral income received by defendant Fernandez Company between 1939 and 1959, and claimed by plaintiffs to be due them under an agreement denominated a "Certificate of Participation" dated June 16, 1939.

It appears that in 1937 the Fernandez Company was a ranching corporation with 500,000 shares of stock of...

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