Walker v. Harper

McCORD, Circuit Judge.

By contract dated November 9, 1940, Hall Walker agreed to purchase and the Trustee agreed to sell a quantity of crude oil located in storage tanks and idle pipe lines in Texas, and belonging to the bankrupt, DeSoto Crude Oil Purchasing Corporation. At the time of the execution of the contract the Trustee did not have tenders for the oil, and it could not be moved. An effort was to be made to secure tenders, and as soon as they were secured by the Trustee, Walker was to pay 65‡ per barrel for oil on which both State and Federal tenders had been obtained, and 40‡ per…