BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: Goldberry who wrote (3675)	1/15/1997 4:43:00 PM
From: Gerald R. Lampton	of 28369

>My reply to which you are replying was in answer to your #3634. What do my >comments have to do with Penzoil & Texaco or the Ido's suing in Canada? My comments about how a court in the U.S. (I am not a Canadian lawyer) would handle a lawsuit brought by Indonesians seeking to enforce a contract were directed to a post a few above yours, not to you. I included them to reduce the number of my posts with which I was cluttering up this thread. As for Texaco and Penzoil, recall that in the 1980's Texaco and Penzoil entered into an "informal agreement" to buy, if I recall correctly, some oil properties. I think it might have even been written on the back of a cocktail napkin. Texaco breached the agreement. Penzoil sued. Texaco said "We don't owe Penzoil any money because this is just an 'informal rough draft agreement in principle.'" It's not a "final, signed, formal agreement." The jury said "WRONG," and ordered Texaco to pay $13 billion as a result of breaching that "informal agreement." So you see, an "informal" "rough draft agreement in principle" and a dollar will buy you a very nice cup of coffee indeed!

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