Legal Opinion
Patrick Petroleum Corporation of Michigan v. Callon Petroleum Company
Court of Appeals for the Fifth Circuit
Decided July 2, 1976No. 75--1461PublishedCited by 7 opinions
1Opinion of the Court
GODBOLD, Circuit Judge.
A seller and a buyer of gas well interests agreed on a damage formula to cover possible mistakes in the transaction. A highly material mistake of fact underlying the contract came to light. Should a court grant rescission under the principle that when parties enter into a contract as the result of a mutual mistake about a material fact, a court of equity may set the contract aside? Or should the court enforce the contractual damage provision? That is the question presented by this Mississippi diversity case.
I
Callón Petroleum Company 1 sold to Patrick Petroleum…
2Cases cited15 opinions
- Terre Haute Cooperage, Inc. v. BranscomeMississippi Supreme Court · 1948
- Brown v. Staple Cotton Co-operative Ass'nMississippi Supreme Court · 1923
- United States v. F. C. HathawayCourt of Appeals for the Ninth Circuit · 1957
- Continental Turpentine & Rosin Co. v. Gulp Naval Stores Co.Mississippi Supreme Court · 1962
- McNamara Construction of Manitoba, Ltd. v. United StatesUnited States Court of Claims · 1975
10 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Alcom Electronic Exchange, Inc., Etc. v. John Burgess, Etc.Court of Appeals for the Fifth Circuit · 1988
- Maxey v. GlindmeyerMississippi Supreme Court · 1980
- Board of Trustees of State Institutions of Higher Learning v. JohnsonMississippi Supreme Court · 1987
- Dahlstrom Corporation, a Corporation v. State Highway Commission of the State of MississippiCourt of Appeals for the Fifth Circuit · 1979
- Board of Trustees of State Institutions of Higher Learning v. Elbert Homer Wood, Jr.Court of Appeals for the Fifth Circuit · 1986
2 more not listed; retrieve them via the Exa API.