Gas Co. v. Eckert

Citations

• 70 Ohio St. (N.S.) 127

Syllabus

<p>Grant of oil rights to corporation — Grantee agrees to drill well, etc. — Conditions of reconveyance hy grantee — Contract is a lease at option of lessee — Interpretation of contracts.</p> <p>A grant to a corporation, its successors and assigns, without limitation as to time, of “all the oil, etc.,” upon the following terms: “First. Second party agrees to drill a well upon said premises within six months from this date, or thereafter pay to the first party one hundred and sixty dollars annually until said well is drilled, or the property hereby granted is reconveyed to the first party. Seventh. Second party may at any time remove all their property and re-convey the premises hereby granted, which conveyance said first party agrees to accept, and thereupon this instrument shall be null and void,” after the expiration of six months, and until a well is drilled, is a lease at an annual rental of one hundred and sixty dollars, at the option of the lessee only.</p>