Moe v. Coe

The defendant filed in the State of Montana a declaration of trust designated as “The Ooe Drilling Syndicate,” the object being, among other things, to locate, lease, purchase, interests in land and to drill and develop such lands for the production of oil for profit. The declaration of trust authorized the trustee of the Syndicate to issue negotiable beneficial interests or units, in the form of certificates, to the extent of fifteen thousand shares, of the expressed value of $5 each. At all the times mentioned in the certificates issued and sold, to this plaintiff, the defendant was the…