(Download) "State v. Pennzoil Co." by Supreme Court of the United States * eBook PDF Kindle ePub Free
eBook details
- Title: State v. Pennzoil Co.
- Author : Supreme Court of the United States
- Release Date : January 05, 1988
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 58 KB
Description
The single issue to be resolved in this case is whether the State of Wyoming (State), the lessor of an oil and gas lease entered into through the Board of Land Commissioners (Board), is entitled to royalty on payments made by a purchaser from the lessee who was required to make minimum payments for gas even though the gas was not received. The district court held that royalties were not due on these payments which were attributable to what is described in the industry as a "take-or-pay" clause. We are in accord that royalties are not due on such payments, and we affirm the judgment of the trial court.
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