Haltom Oil Company (Formerly Haltom-Murphy, Inc.) v. Phillips Petroleum Company

The majority has concluded that the contract in question is unambiguous because: 1) “A reading of the contract indicates that each substantive paragraph was independent and distinct in that each covered some separate aspect of the relationship”, and 2) to rule that the purchase-price note should be cancelled in addition to the payment of $30,000.00 specified in paragraph No. 3 would be to create a “total consideration of” $52,-247.53 — a result in conflict with the express language of that paragraph. I cannot agree since this conclusion rests upon the unsupported and mistaken assumption that,…