Austin v. Hallmark Oil Co.

— Plaintiffs brought this action to recover a share of the proceeds from the operation of certain oil wells and to obtain stock in the operating corporation. The facts set forth in the findings of the trial court are as follows: On or about July 1, 1934, John Austin and John Porter entered into an agreement for the acquisition of a lease on some thirty acres of oil-bearing land in Kern County owned by Julius Pried and the Merritt Annex Oil Company. They agreed that if Porter could obtain the lease in his own name for the equal benefit of himself and Austin, the latter would attempt to secure…