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Law Of Oil And Gas, Iv, James A. Veasey
Law Of Oil And Gas, Iv, James A. Veasey
Michigan Law Review
This clause follows the grant, and is one of the most distinctive features of the modern oil and gas lease. Occasionally the duration of the lease is fixed by the granting clause; some times by a miscellaneous provision appearing therein. But generally speaking, the habenduin defines the term of the present-day oil and gas lease. At any rate a discussion of the legal effect of the habendum clause which now characterizes these instruments will involve the treatment of every important question which arises under this heading. At the outset we should observe that the clause is the direct result of …
Law Of Oil And Gas, James E. Veasey
Law Of Oil And Gas, James E. Veasey
Michigan Law Review
The lessor hereby grants to the lessee, his heirs and assigns, the exclusive right to mine and produce from the following described land petroleum and natural gas, with possession of so much of such land as may be necessary for such purpose.
Law Of Oil And Gas, James A. Veasey
Law Of Oil And Gas, James A. Veasey
Michigan Law Review
The questions heretofore considered are general in their scope, and were treated for the purpose of providing a background for the more intensive study upon which we must now enter. While commentators refer to this branch of jurisprudence as the "Law of Oil and Gas," it is more exact to say that .we are dealing with the law pertaining to oil and gas leases. This is true because the oil and gas lease characterizes and distinguishes the subject throughout. For reasons which inhere in the very nature of the business a lease yielding the lessor a royalty on the quantity …
Law Of Oil And Gas, James A. Veasey
Law Of Oil And Gas, James A. Veasey
Michigan Law Review
No thoughtful observer will presume to gainsay the all-important part which the oil business plays and will continue to play in the industrial, commercial and social life of the civilized world. Long before the great war this fact was deeply impressive, and was generally recognized. At the end of that conflict it was said with much truth that the Allies had floated to victory upon a sea of oil. Now, standing as we are at the threshold of a new era rich in industrial and commercial promise, no man can foresee nor even approximate the mighty expansion which will characterize …