Hisey
Title Ins. & Trust Co. v. Hisey
Opinion
Lead Opinion
Stephens, J.
This appeal is from a decree of the District Court perpetually enjoining forfeiture of an oil lease for any failure to comply with the drilling and testing requirements of the lease% No compensation for breach is involved.
The land involved is “The northwest quarter of Section 4, Township 11 North, Range 23 West, S.B.B.&M., containing 160 acres, more or less.” Prior to August 11, 1934, this property was held in trust by the Title Insurance & Trust Company, hereinafter called the Trust Company, as trustee. Prior to November 18, 1927, the entire quarter section was under lease to Sun Park Oil Company, the Lake View Oil & Refining Company, hereinafter called the Oil Company, being a sublessee as to the southwest quarter. The main lease (and with it the sublease) by its terms expired April 9, 1930. Before the date of expiration and after considerable negotiation with other prospective lessees, a new lease as to the whole quarter section was entered into with the Lake View Oil & Refining Company. The new lease was executed by Carrie G. Parkinson (at that time the sole beneficiary of the trust) on November 18, 1927, *557 the property having been deeded to her by the Trust Company for…