Bridgeport Mach. Co. v. First Nat. Bank of Breckenridge

Lacey contracted with Godley Oil & Gas Company to drill an oil well for the latter to a specified depth for a stipulated price. The contract provided: “No part of the contract price mentioned shall in any event become due or be paid until said well shall be completed to the depth above required,” etc. Another provision was: “⅜ * * The party of the first part (i. e. the contractor) shall fully protect, indemnify and save the party of the second part harmless against any and all claims, demands or liens growing out of or connected with the performance of this contract, or operations thereunder,…