De Bogory v. Chapman

LOONEY, Justice.

During the year 1925, C. M. Joiner, having obtained certain oil and gas leases on lands in Rusk county, Tex., formed the acreage intp three groups, called syndicates; syndicate No. 2 was composed of the four leases, aggregating 321 acres, including what is known as the Finney lease of 102 acres, which, with other lands, was on June 27, 1925, leased to Joiner by Mrs. Finney, for a period of five years (exr piration date June 27,1930). During the years 1927 and 1928, Joiner issued and sold to purchasers certain certificates evidencing undivided interests in these syndicates. The…