Consolidated Petroleum Industries, Inc. v. Jacobs

DICKENSON, Justice.

The principal issue on appeal is whether the Statute of Frauds 1 requires us to re verse a judgment for damages resulting from nonperformance of an oral contract for the sale of stock.

The jury answered all issues in favor of plaintiff, John R. Jacobs, 2 and judgment was rendered in his favor against defendants, Consolidated Petroleum Industries, Inc., D. Truitt Davis and Jack W. Young for the sum of $2,095,000.00 plus attorney fees. 3 Defendants appeal. We reverse and render.

The issues submitted to the jury, and the jury’s answers, are quoted in full:

SPECIAL ISSUE NO. 1

Do…