Mayer v. White

YOUMANS, District Judge.

On and prior to February 21, 1920, appellee, J. H. White, and S. R. McCorkle were partners under the name of McCorkle Drilling Company. The partnership owned oil and gas leases and drilling tools, tanks, and casings. On that date White contracted to sell to H. E. Mayer all his interest in the partnership property for $50,000, payable- as follows: $1,000 on the execution of the contract; $4,000 on March 15, 1920; $20,000 on April 1, 1920, and $25,000 on May 1, 1920,. Mayer agreeing to assume the partnership debts. After the execution of the contract, Mayer associated…