Tanner v. Easter

FAULKNER, Justice.

George Tanner and Larry Easter were partners. In late 1965, they began as “Tan-East Investments, Limited”; then, in early 1966, they changed the partnership name to “Fairway Investments Company”. The purpose of the latter, as stated in the partnership agreement, was:

“* * * [T]o explore for, produce, treat, transport either oil or gas or both, or products derived therefrom within the Continental United States; to acquire, own, hold, develop and operate mineral properties either primarily or secondarily * * * *>

After 1968, the partnership did no further business. On June 16,…