ALLIED CHEMICAL CORP. v. AMERICAN IND. OIL

No. 18029.

623 S.W.2d 760 (1981)

ALLIED CHEMICAL CORPORATION et al., Appellants, v. AMERICAN INDEPENDENT OIL COMPANY, Appellee.

Court of Appeals of Texas, Houston (1st Dist.).

Rehearing Denied October 19, 1981.


Attorney(s) appearing for the Case

Dan Matthews, Fulbright & Jaworski, Houston, for appellants.

Paul Clote, Ben H. Sheppard, Jr., Vinson & Elkins, Houston, for appellee.

Before SMITH, PEDEN and DUGGAN, JJ.


SMITH, Associate Justice.

This is an appeal from a summary judgment construing an agreement dated April 25, 1955. The only contested issue on appeal is whether appellee is entitled to recover various wind-up expenses incurred during one quarter from the net profits already determined and paid for in a prior quarter.

In 1955, Anderson-Pritchard Oil Corporation and appellee each possessed a 1/12th of 5% interest in an Iranian oil consortium. By agreement dated...

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