Shefts Supply, Inc. v. Fischer

Shefts Supply, Inc., a corporation, purchased a lot of second hand pipe located at Keystone, Okla., from the Continental Oil Company, and thereafter entered into an oral agreement with Abe Fischer under the terms of which he became the owner of a half interest in said pipe. It was agreed between the parties that either of them, or their representatives should sell the pipe to such persons and in such quantities as their respective judgments deemed proper, and should account to the other for one-half of the net profits from such pipe as sold. Each of the parties thereafter sold several lots…