[DOWNLOAD] "Hull v. Sun Refining and Marketing Co." by South Carolina Supreme Court # Book PDF Kindle ePub Free

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eBook details

• Title: Hull v. Sun Refining and Marketing Co.
• Author : South Carolina Supreme Court
• Release Date : January 26, 1989
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 74 KB

Description

1 The issues presented are: 1) whether a lessors demonstration of marketable title is sufficient to maintain an action under 52 O.S.Supp. 1985 ? 540 , providing for the payment of proceeds from oil and gas production; 2) whether lessors are bound by a contract provision implied from custom and usage requiring execution of a division order in a contract negotiated by a lessee as agent for the sale of oil; and 3) whether either party may be characterized as a prevailing party entitled to court costs and reasonable attorneys fees. We find that: 1) because the only condition for which 52 O.S.Supp. 1985 ? 540 justifies suspension of royalty payments is the existence of unmarketable title, failure to execute a division order is not a defense to an action for the payment of proceeds from oil production; 2) the agent-lessee could not bind the principal-lessor to a trade usage no longer recognized and contrary to public policy; and 3) the lessors are prevailing parties entitled to reasonable attorneys fees under 12 O.S.Supp. 1985 ? 540 (C). The determination that royalty owners need not execute division orders before commencing an action pursuant to ? 540 negates the necessity of addressing the issues of whether the trial court erred in composing a list of factors properly included in division orders or improperly considered extrinsic evidence in drafting the list, and whether the division of interest form presented by the lessors was sufficient to show they were parties entitled to payment pursuant to ? 540.

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