Energy Cooperative, Inc. v. Phillips Petroleum Co.

citing, Restatement (Second) of Judgments, § 87 (1982); 18 C. Wright, A. Miller, E. Cooper, Federal Practice and Procedure, § 4466 (1981); Degan, Federalized Res Judicata, 85 Yale L.J. 741, 769 (1976) | creditor failed to deliver oil to debtor under oil exchange contract; held that this debt could have been offset against creditor's claim for payment due on the exchange agreement | creditor failed to deliver oil to debtor under oil exchange contract; held that this debt could have been offset against creditor’s claim for payment due on the exchange agreement | upholding $20,000 fine for tax fraud