Atlantic Oil Producing Co. v. Masterson

BRYAN, Circuit Judge.

Appellant complains of a judgment, based upon a directed verdict, for nominal damages only, in an action which it brought to recover, as damages for breach of contract, the cost of drilling two oil wells.

On February 6, 1923, appellant was the owner of an oil and gas lease of 30 acres of land which would terminate, unless the drilling of an oil well should be begun on or before April 9,1924. On the first date above mentioned, appellant made an assignment to appellees of its interest in 10 acres of the land covered by the lease, and in consideration for that assignment…