Producing Properties, Inc. v. Sohio Petroleum Co.

DIXON, Chief Justice.

This is an appeal from a summary judgment.

Appellant Producing Properties, Inc., hereinafter called PPI, on July 31, 1963 agreed to sell and thereafter did sell and convey to appellee Sohio Petroleum Company, hereinafter called Sohio, certain oil and gas properties, the effective date of the sale and transfer being September 1, 1963. The contract between the parties contained this provision:

“PPI shall bear all costs, expenses and liabilities in connection with the PPI properties incurred prior to the Effective Date and shall indemnify and hold harmless Sohio and Morse 1…