Hertz v. Nordic Ltd., Inc.

OPINION

DAVIDSON, Judge:

The series of transactions leading to this lawsuit concern oil and gas leases in Casey and Adair Counties, Kentucky. The ownership of these leases was disputed in a federal court suit in which Jader, Inc. (Jader), a subsidiary of Nordic Limited, Inc. (Nordic), was a party. One of the central issues in that suit concerned the actions of Sey-more L. Hertz (Hertz), a California businessman who possessed an interest in the leases. The settlement of the federal litigation enabled Hertz to enter in the agreements at issue herein.

A memorandum of understanding (first agreement)…