(Download) "Kirk v. H.G.P. Corporation" by Supreme Court of Kansas " eBook PDF Kindle ePub Free
eBook details
- Title: Kirk v. H.G.P. Corporation
- Author : Supreme Court of Kansas
- Release Date : January 04, 1972
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 57 KB
Description
The opinion of the court was delivered by This action was commenced by the appellees, Sennett Kirk, Jr.
and H.B. Doering, as landowners, against an oil and gas lessee
corporation, H.G.P. Corporation, Inc. for the cancellation of an
oil and gas lease and for statutory and common-law damages
arising from the cancellation, including misfeasance in plugging
certain oil and gas wells and the failure to plug certain water
injection wells on said leases. The facts are undisputed. The appellant, Claude D. Beets, was
one of the incorporators of the defendant corporation in
September, 1961. Two leases acquired by the corporation as
separate tracts from the prior lessee, Maricibo Oil Exploration
Company, on October 16, 1961, were financed through personal
loans from Beets to the corporation, evidenced by promissory
notes. Beets also made other personal loans to the corporation
and at one time H.G.P. was indebted to Beets in the amount of
$45,000. Beets owned the majority of the common stock of H.G.P.
and was the principal officer, director, and manager of its
affairs. The only other stockholder or officer of the defendant
corporation was Beets' brother-in-law, who agreed to purchase the
minority interest in the corporation for $1,500, and in fact, he
never paid for the full minority
[208 Kan. 778]
 "Kirk v. H.G.P. Corporation" by Supreme Court of Kansas " eBook PDF Kindle ePub Free){kind=link}