Atlantic-Pacific Oil Co. v. Gas Development Co.

Section 12 1/2 of Circular No. 672 of the General Land Office, approved March 11, 1920, and designated "Regulations concerning oil and gas permits and leases and rights of way for oil and gas pipelines," provides: "Assignment of permits — Permits after having been awarded may be assigned to qualified persons or corporations upon first obtaining consent of the Secretary of the Interior. Mere rights to receive a permit are not assignable." This rule was in full force and effect at the time the agreements here in question were entered into, and the parties themselves recognized the necessity for…