SEARCH

Beverly Foundation v. Lynch

The record falls short of creating a material issue of fact on the question of whether appellee entered a joint venture with appellant, agreed to assume the duties and obligations of the venture, or had any other kind of fiduciary relationship with appellant. And, unless there was an agreement, there could be no breach of it or fiduciary duties emanating from it. Amarillo Court of Appeals, No. 07-08-0387-CV, 10-30-2009

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Opinion

Before QUINN, C.J., and CAMPBELL and HANCOCK, JJ.

The Beverly Foundation (a non-profit corporation) appeals from a summary judgment denying it recovery against W. W. Lynch (Lynch), San Marino, L.P. (San Marino), and Sofamco, Inc. (Sofamco). The dispute concerns a purported oil and gas drilling venture from which Beverly was excluded, contrary to an alleged oral agreement. Per the oral agreement, Sofamco was to convey to it a 1/8 working interest in the oil and gas leases the venture acquired. Beverly eventually sued the aforementioned parties for fraud, breached fiduciary duty, and conspiracy.*fn1 As relief, it sought a constructive trust, exemplary damages, and attorney’s fees. Thereafter, each of the defendants filed traditional or no evidence motions for summary judgment. Beverly responded with its own motion for partial summary judgment. The trial court granted those of the defendants without specifying the grounds upon which it acted and denied that of Beverly. The latter now attacks the judgment via four issues. We overrule each and affirm.

More From ALM

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now

From Data to Decisions

Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.

Exclusive Depth and Reach.

Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.

Big Pictures and Fine Details

Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.

British Legal Awards 2024

November 27, 2024
London

Celebrating achievement, excellence, and innovation in the legal profession in the UK.

Learn More

GlobeSt. Healthcare Real Estate 2024

December 02, 2024 - December 03, 2024
Scottsdale, AZ

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!

Learn More

ThinkAdvisor LUMINARIES Awards 2024

December 11, 2024
Las Vegas, NV

This event shines a spotlight on how individuals and firms are changing the investment advisory industry where it matters most.

Learn More

Associate General Counsel, Global Employment

Role TitleAssociate General Counsel, Global EmploymentGrade F13Reporting ToSenior Legal Counsel, Global EmploymentProgram/Tool/ Department/U...

Apply Now ›

Associate Attorney

Ryan & Conlon, LLP, is a boutique firm specializing in insurance defense. We are a small eclectic practice with a busy and fast paced en...

Apply Now ›

INTELLECTUAL PROPERTY PROSECUTION PARALEGAL

INTELLECTUAL PROPERTY PROSECUTION PARALEGAL - NEW JERSEY OR NEW YORK OFFICESProminent mid-Atlantic law firm with multiple regional office lo...

Apply Now ›