Events tagged with "contract law"

Historical Events tagged with "contract law"

Turns out history loves a label—battles, breakthroughs, and the occasional disaster, all neatly tagged for your browsing pleasure. Because sometimes you just need every weird invention in one place.

Economics & Industry

Pennzoil's Record Judgment Against Texaco

November 19th, 1985 39 years ago

In a landmark legal battle, Pennzoil was awarded $10.53 billion from Texaco, marking the largest civil verdict in U.S. history. The case emerged from Texaco's acquisition of Getty Oil, which violated an existing agreement between Pennzoil and Getty. The trial revealed the intricacies of contractual obligations in large business deals and highlighted the tensions in the oil industry during the 1980s.