Clement v. Wilson

11 F.2d 355, 1926 U.S. App. LEXIS 2491
CourtCourt of Appeals for the Eighth Circuit
DecidedFebruary 8, 1926
DocketNo. 6910
StatusPublished
Cited by2 cases

This text of 11 F.2d 355 (Clement v. Wilson) is published on Counsel Stack Legal Research, covering Court of Appeals for the Eighth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Clement v. Wilson, 11 F.2d 355, 1926 U.S. App. LEXIS 2491 (8th Cir. 1926).

Opinion

YOUMANS, District Judge.

Appellant, hereafter called plaintiff, brought this suit against appellee, hereafter called defendant, in the United States District Court for the Western District of Oklahoma to recover $4,500 upon a written contract signed by plaintiff and defendant on June 2, 1922. That contract, omitting signatures, reads as follows:

“This contract made and executed between Clement A. Clement, of the city of Houston, county of Harris, state of Texas, U. S. A., first party, and Edward R. Wilson, resident of the city of Oklahoma City, county of Oklahoma, state of Oklahoma, U. S. A., second party, witnesseth:

“That whereas, the said Clement A. Clement is the owner of three (3) certain options to lands for oil and gas purposes, covering certain lands and properties in the republic of Colombia, South America, which said three (3) several properties are evidenced by certain instruments designated, respectively, as, viz.: ■

“(1) Escritura No. 1166, dated at Bogota in the republic of Colombia, at the office of the third notary, August 11, 1921;.

“(2) Escritura No. 1227, dated at Bogota in the republic of Colombia, at the office of the third notary, August 23,1921;

“(3) A transfer of escritura No. 281, lands of Santa Rita and Opon, dated April 19, 1920, at Chia, before the notary of the Circuit Chia (Obdulio E. Cuandres), executed by Horacio and Fabio Hernandez and Eduardo Lopez Pumerejo, which option contract is in the form of a letter dated August 27, 1921, to Clement A. Glement, and attached to said letter is a copy of the said escritura No. 281, above referred to;

“And, whereas, the said Clement A. Clement, by this instrument, contracts and agrees that he can secure renewals of said options and contracts for the period to and including July 1, 1923, for the sum of ten thousand ($10,000.00) dollars, and that he will secure the said extensions, and when they are secured said Edward R. Wilson will pay to said Clement A. Clement the sum of ten thousand ($10,000.00) dollars;

“It being understood and agreed that the said Clement A. Clement, simultaneously with the payment of the said sum, shall execute to the said Edward R. Wilson assignments of said properties and extensions in such form as is required by the laws of the Republic of Colombia, South America, to convey the same to Edward R. Wilson.

“It is further agreed and understood that the said Edward R. Wilson shall have the power and authority and the same is hereby granted him to sell, contract for the sale of, to assign and convey, and contract for the assignment and conveyance of, either, all, or any of the above-described properties, or properties contemplated by this contract, or any part of any of said tracts or properties.

“It is further agreed and understood, that out of the first proceeds realized by the said Edward R. Wilson from any disposition of any of said properties, or parts thereof, one-half (%) thereof, that is one-half (%) of said proceeds shall be paid to each of the parties hereto, Clement A. Clement and Edward R. Wilson, up to the sum of ten thousand ($10,000.00) dollars to each; it being the purpose hereof that there shall be repaid to said parties out of the first proceeds the moneys which they have advanced, namely ten thousand ($10,000.00) dollars by Clement A. Clement and ten thousand ($10,-000.00) by Edward R. Wilson.

“It is further agreed and understood, that it may be necessary'to pay a cash consideration or make other settlement by way of interests in all or part of said properties to and with other parties who have heretofore been employed or who may hereafter be employed in the handling, financing, and disposition of said properties, and, in such eases, the said Edward R. Wilson shall make such cash payment or payments out of the proeeds from the disposition of any of said properties, after the repayment of the same above-mentioned to Clement A. Clement and Edward R. Wilson, or shall make such conveyance, or conveyances, of interests in or parts of said properties as may be required to be made with such parties on the basis of an interest in or parts of said properties; and whatever remains in the way and form of cash and/or parts of or interests in said properties above described and properties contemplated by this contract shall be and belong one-half (%) to Clement A. Clement and one-half (%) to Edward R. Wilson, and the said Edward R. Wilson shall be construed to hold the said one-half (%) interest in said cash or properties for said Clement A. Clement, and shall account to said Clement A. Clement therefor.

“It is further agreed and understood that, in addition to the properties specifically described above, in paragraphs one (1), two [357]*357(2), and three (3), all properties, property-rights, or oil and gas leasehold interests, in the republic of Colombia, South America, now owned or being negotiated for by said Clement A. Clement, or that may hereafter be acquired by him, shall be regarded as coming within the terms of this agreement, and shall be transferred and conveyed to Edward R. Wilson upon request for the purpose of holding, handling, financing, and disposition, in the same manner as the properties hereinabove specifically described. This provision also applies to any properties, property rights, or oil and gas leasehold interests that may be acquired in said republic of Colombia, South America, by Edward R. Wilson from any source whatsoever.

“In witness whereof the parties have hereunto set their hands this 2d day of June, A. D. 1922.”

The complaint of plaintiff contains the following allegations:

“That, after the execution of said contract and as provided for therein, this plaintiff did, at considerable expense and trouble to himself, procure the extensions of said options and contracts for the period to and including July 1, 1923, and cause the same to be deposited in the Security National Bank in Oklahoma City, Okl., and on ■ or about the 18th day of September, 1922, deposited therewith an assignment of said option and contracts to the said defendant, Edward R. Wilson, which said assignment so deposited with said options and contracts contained the following provision:

“ ‘This assignment and the said papers are to be delivered by the said bank to the said Edward R. Wilson only upon payment of the sum of five thousand dollars ($5,000.00) to the said bank for the account of the said Clement A. Clement, and upon the further condition that the said Edward R. Wilson by the acceptance of this assignment does hereby bind and obligate himself to pay the said bank for the account of the said Clement A. Clement the further sum of five thousand dollars ($5,000.00) within ten days from the date of such delivery, said bank not to be responsible to the said Clement for the said last five thousand dollars ($5,000.00) until the same is paid to them by the said Edward R. Wilson.'

“That the said Edward R. Wilson did thereafter pay to said bank the first $5,000 therein mentioned and accepted the assignment and received the contracts and options referred to therein from said bank, but wholly failed and neglected to pay either to -the said bank or the plaintiff herein, within 10 days from the delivery of said assignment and said options and contracts to him, the second $5,000, as he agreed to do by the said contract, and afterwards by the acceptance of said assignment; but afterwards, to wit, on November 11, 1922, paid the plaintiff the sum of $500 on the said contract.

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Related

Williams v. Great Southern Lumber Co.
13 F.2d 246 (E.D. Louisiana, 1926)

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Bluebook (online)
11 F.2d 355, 1926 U.S. App. LEXIS 2491, Counsel Stack Legal Research, https://law.counselstack.com/opinion/clement-v-wilson-ca8-1926.