Mackay

This is an appeal from a decree of the district court denying cancellation and rescission of certain assignments of a mining lease and option, dismissing, appellant’s bill of complaint seeking such relief, and quieting title in the mining lease as against appellant in the appellee Centennial Gold Mining Company, hereafter referred to as Centennial.

The lease, dated June 14, 1933, covered certain mines and mining property in the State of Nevada, kriown as the Bull Run property. An option to purchase the property at a stated price was granted by the lessors to L. W. Gardiner, the lessee. Appellant DeLamar Mines of Montana, Inc., an Idaho corporation, hereafter referred to as -DeLamar, acquired the lessee’s interest in the lease and option sometime prior to August 14, 1934.

An agreement, dated August 14, 1934, was made with DeLamar by the individual appellees looking toward the formation of a corporation under the laws of Nevada and providing, inter alia, that upon execution of the agreement DeLamar would assign and transfer to appellee Alonzo Mackay, as trustee, the lease and. option, to be transferred in turn by the trustee to the Nevada corporation' immediately upon its…