Pic Oil Co., Inc. v. Grisham

DOOLIN, Vice Chief Justice.

This appeal is taken from a summary judgment in an action to rescind the purchase of undivided fractional interests in oil and gas leases in Creek County, Oklahoma.

Summary judgment was granted to Robert W. Grisham and Sharon D. Grisham (“Grisham”) against PIC Oil Company, Inc. (“PIC”) and the latter’s sole stockholders and agents (the individual appellants Thompson, Parker and Walters).'

The trial court, in granting summary judgment, allowed the Grishams to rescind the purchase of the leasehold interests because of PIC’s violations of the Oklahoma Securities Act…