San Juan Uranium Corporation v. Thomas G. Wolfe and Virginia E. Wolfe

Prior to the organization of the San Juan Uranium Corporation,1 one Rollie B. Walter learned that a certain mining lease covering lands near Durango, Colorado, could be obtained from the owners thereof, without consideration other than an agreement to explore and develop the claims and to pay the owners certain royalties.

Walter, B. C. Deardorf and Thomas G. Wolfe entered into an agreement whereby Walter would obtain the lease; that a corporation would be formed to take title to the lease and that Walter would receive 100,000 shares of the common capital stock of the corporation upon its…