Dallas v. Knox-Powell Stockton Co., Inc.

[175]

PARKER, J.,

pro

tem.

This is an action wherein and whereby plaintiff seeks to have his rights declared under the terms of a written contract. The plaintiff is the assignee of the original party to the contract and rather than constantly refer to the nominal plaintiff we will use the term “plaintiff” throughout as meaning the assignor, inasmuch as no point is presented regarding the assignment.

We find it unnecessary to detail the pleadings further than to state that the complaint measures up to the requirements of the statute authorizing an action seeking declaratory relief. The contract presented for construction is in the following words:

“This agreement, made between A1 Eyraud and Knox Powell Stockton Company, Ltd., this 8th day of July, 1930, witnesseth:

“Whereas, Knox Powell Stockton Company, Ltd., is contemplating taking over and/or drilling certain leases or drilling sites in the Venice Del Rey oil field, Los Angeles County, California, in connection with or through W. G. Davis, and selling per cents or units therein,

“Now, therefore, for a valuable consideration, receipt of which is hereby acknowledged, it is agreed between the above parties as follows:

“Knox Powell Stockton Company, Ltd., agrees to pay and/or deliver or assign to A1 Eyraud ten (10%) per cent of the value of all oil or gas or royalties, or money received from sales contracts, received by said company from any leases or drilling sites in said Venice Del Rey oil field, secured through or in connection with W. G. Davis. It is understood that said ten (10%) per cent is only to be paid to said A1 Eyraud after said Knox Powell Stockton Company, Ltd., has received a commission of twenty (20%) per cent of the sale of units, royalties or per cents.

“In witness whereof,” etc.

The present plaintiff is the assignee of A1 Eyraud, so that the term “plaintiff”, as hereinbefore suggested, as used hereinafter will designate Eyraud.

Upon issue joined and in response thereto the trial court found that the contract was duly entered into for a valuable consideration and that there was no fraud, misrepresentation or mistake in the negotiations or in the contract.