[Download] "Fullerton V. Kaune" by New Mexico Supreme Court ~ Book PDF Kindle ePub Free

July 02, 2021

eBook details

Title: Fullerton V. Kaune
Author : New Mexico Supreme Court
Release Date : January 15, 1963
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 52 KB

Description

Appellant alleged that he entered into an oral agreement in 1922 with Henry E. Kaune, now deceased, to the effect that a mineral prospecting permit would be acquired on lands owned by the federal government, with the understanding that the application for the permit would be in the name of decedent and that any lease procured would also be taken in decedent's name. The decedent would pay all monies, charges and expenses required to be paid; appellant was to prepare all necessary papers and to perform all legal work in connection with the enterprise. Resulting profits were to be shared equally between appellant and the decedent. Appellant did prepare the necessary papers and performed required legal work; the decedent furnished the required monies; a prospecting permit was obtained; and mineral leases were issued to the decedent. In time, the leases were assigned to an operator to procure their development. Overriding royalties of 6 1/4% of the value of all oil and gas produced and saved from the lands were reserved by the decedent.