OIL INVESTMENT, INC. v. DALLEA PETROLEUM CORP.

No. 8367.

150 N.W.2d 189 (1967)

OIL INVESTMENT, INC., a North Dakota corporation, Plaintiff and Respondent, v. DALLEA PETROLEUM CORPORATION, a North Dakota corporation, Dois D. Dallas, and Currie Conrad, Defendants, Third-Party Plaintiffs, and Appellants, v. Leonell W. FRAASE, Arnold Blikre, and A. H. Ness, Third-Party Defendants and Respondents.

Supreme Court of North Dakota.

March 30, 1967.


Attorney(s) appearing for the Case

Rolfstad, Winkjer, Suess & Herreid, Williston, for plaintiff and respondent.

Bjella, Jestrab, Neff & Pippin, Williston, for Dallea Petroleum Corp., defendant and appellant.

Pearce, Engebretson, Anderson & Schmidt, Bismarck, for Dois D. Dallas and Currie Conrad, defendants, third-party plaintiffs, and appellants.

Fred A. McKennett, Williston, for Leonell W. Fraase, Arnold Blikre and A. H. Ness, third-party defendants and respondents.


KNUDSON, Judge.

On August 31, 1962, the Dallea Petroleum Corporation made, executed and delivered its note payable to the order of Republic Supply Company in the principal sum of $25,920.98. This note was countersigned by Leonell W. Fraase, A. H. Ness, Dois D. Dallas, Currie Conrad, and Arnold Blikre, in their individual capacities. They also constituted the board of directors of Dallea Petroleum Corporation. Upon the note becoming in default, it was purchased by...

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