Oil Co. Liable For Landman's Leases: Texas Appeals Court

Law360, Dallas (July 26, 2013, 5:02 PM EDT) -- A Texas appeals court on Wednesday found a landman working as an independent contractor for PanAmerican Operating Co. was under the company’s authority when he negotiated a mineral rights lease, and said PanAmerican is liable to the property owner.

The Eighth District Court of Appeals, affirming a trial judge’s ruling, said PanAmerican only asserted the landman, Robert Wormser, had no authority to execute leases on its behalf after the price of oil dropped precipitously. The panel found Wormser negotiated an oil lease with the Maud Smith...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.