GENERAL ASPHALT COMPANY, LTD. v. ANGLO-SAXON PETROLEUM COMPANY, LTD.

(1931) 40 Ll L Rep 1

COURT OF APPEAL.

Before Lord Hanworth (Master of the Rolls), Lord Justice Lawrence and Lord Justice Slesser.

Contract - Company law - Plaintiff and defendant companies engaged in joint venture in exploitation of oil-Joint venture terminated and different arrangement substituted - Agreement between defendant company and plaintiff company that defendant company "will use such rights as it may possess and such influence as it can exercise to procure the Colon [in which defendants held a controlling interest] to deliver to them [plaintiffs] or as they may from time to time in writing direct during the life of the Vigas concession" a certain percentage of the crude oil produced from that concession - Construction - Meaning of "rights" and "influence"-Intention of parties - Doctrine of "business efficacy"