Clinkenbeard v. Central Southwest Oil Corp.

THORNBERRY, Circuit Judge:

This is a suit for rescission of an assignment of an oil lease to federal lands in New Mexico that was won by appellee Clinkenbeard in a lottery conducted by the Department of the Interior. The district court found that the assignee, Central Southwest, had a fiduciary duty as an agent to Clinkenbeard, the assign- or, and that, because Central Southwest took the assignment without revealing to Clinkenbeard all relevant information concerning the value of the lease, the assignment should be rescinded.

This story began when Clinkenbeard responded to Central Southwest’s…