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NARANJO v. PAULL

No. 11502.

803 P.2d 254 (1990)

111 N.M. 165

Raymond NARANJO and Fil Naranjo Plaintiffs-Appellees and Cross-Appellants, v. Les PAULL and Mrs. Les Paull, Paull Petroleum Corporation, GF 83 Ltd. and ABO 84 Ltd., Defendants-Appellants and Cross Appellees.

Court of Appeals of New Mexico.

October 4, 1990.

Attorney(s) appearing for the Case

Richard E. Olson and Howard R. Thomas, Hinkle, Cox, Eaton, Coffield & Hensley and K. Douglas Perrin, Shamas & Perrin, Roswell, for defendants-appellants and cross-appellees.

Tandy L. Hunt and Charles C. Currier, Hunt & Currier, Roswell, for plaintiffs-appellees and cross-appellants.

OPINION

HARTZ, Judge.

In 1983 and 1984 Raymond and Fil Naranjo (the Naranjos) invested in two oil-and-gas limited partnerships, GF 83 Limited and ABO 84 Limited. The general partner for each limited partnership was Paull Petroleum Corporation (PPC). Mr. and Mrs. Les Paull were the two directors of PPC. Also, Mr. Paull served as president and treasurer, Mrs. Paull as vice-president and secretary.

The Naranjos sued PPC, Mr. and Mrs. Paull, and the...

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