Eastern States Petroleum Co. v. Universal Oil Products Co.

Harrington, Chancellor:

Eastern States Petroleum Co., Inc., by its bill sought to be subrogated to the original rights of Asiatic Petroleum Corporation against Universal Oil Products Company, with respect to $250,000 in sealed notes, which were surrendered by Asiatic to Universal in 1940. The defendant’s demurrer thereto was sustained on the ground that “subrogation does not apply when a complainant merely pays his own debt, and not the debt of another, though incidental benefits may thereby accrue to the defendant.” 28 Del. Ch. 365, 44 A. 2d 11, 16. Other relief was also sought by the…