Parties to contracts negotiated and executed in texas

Assignment Help Other Subject

Reference no: EM132623212

Ewing Oil Corp., is a Delaware corporation with its principal place of business in California. They are an oil distribution company that operates in North and South America. They entered into a long-term Crude Oil Supply Agreement with Barnes-Wentworth, Inc., who is an Oklahoma-based company incorporated in Oklahoma and Buenos Aires Petroleum Co. (BAPCO), the Argentinian state oil company based in Buenos Aires, Argentina. BAPCO and Barnes-Wentworth generally did business together. The parties entered the Agreement at a meeting in Barnes-Wentworth's Dallas office after back and forth negotiations, which also happened in Texas at Barnes-Wentworth's Dallas office. Barnes-Wentworth has numerous oil production facilities in Texas that are supervised and managed out of the Dallas field office. The Agreement was entered into to create a market for BAPCO's and Barnes-Wentworth's crude oil through Ewing Oil's extensive U.S. distribution and retail channels.

In the terms of the Agreement, BAPCO and Barnes-Wentworth were to supply crude to Ewing Oil at an agreed discount rate compared with what the two charged on the open market. Over time, Ewing Oil believed that BAPCO and Barnes-Wentworth were overcharging for the crude oil and demanded repayment of any over amount paid. When BAPCO and Barnes-Wentworth refused to issue any over-payment, Ewing Oil brought suit on the contract against Barnes-Wentworth and BAPCO in Texas federal court, claiming $100 million dollars in damages. Both defendants were served at their headquarters. When BAPCO and Barnes-Wentworth responded to the complaint, they both filed motions to dismiss for lack of personal jurisdiction. Assume Texas has a long-arm statute permitting the exercise of jurisdiction over all parties to contracts negotiated and/or executed in Texas. How should the court rule?

Reference no: EM132623212

Questions Cloud

Discuss the implications of using fair value measurements : Discuss the implications of using fair value measurements for long-lived assets. Comment on the advantages and disadvantages of each method

List three types of goods that are classified as inventory : List three types of goods that are classified as inventory. What characteristics will automatically exclude an item from being classified as inventory?

What situations would a reasonable estimate of returns be : What is the authoritative guidance for revenue recognition when right of return exists? When is this guidance important for a company?

What is the ending balance of accounts receivable : Sold goods for $10,000 receiving $8,000 in cash and charging $2,000 to a costumer's credit account. What is the ending balance of Accounts Receivable

Parties to contracts negotiated and executed in texas : Assume Texas has a long-arm statute permitting the exercise of jurisdiction over all parties to contracts negotiated and/or executed in Texas.

What disorder does your character or person have : Briefly describe the source/character of your example of someone exhibiting the symptoms of an Anxiety disorder. Provide the character's name.

What are the net changes to the accounts impacted : A firm sold goods for $50,000. $10,000 was paid in cash, The goods originally cost $30,000. What are the net changes to the accounts impacted by transaction

Explain the potential personal liability to acme fireworks : Why Acme Fireworks should not operate as a sole proprietorship. Recommend a new business entity, and provide rationale to support your recommendation.

Describe ethical issue : Describe an ethical issue that you have dealt with or have the potential of dealing with in the future with more than one conflict for any decision made.

User Account

All Pages