Parsons v. Fern-Glen Oil Co.

On the 1st day of April, 1919, appellants, J. Z. Parsons and T. F. Hunter, the owners of an oil lease upon certain lots in the town, of Burkburnett, entered into a contract with the Fern-Glen Oil Company, for the sale of said lease. The contract is in writing and binds Parsons and Hunter to assign the lease upon produaers’ form No. 88, retaining one-eighth rojmlty to the said Parsons. It binds the company to begin operations within four months from the date of the contract, and in default to pay $300 per month for each extension of 30 days during a' period of 12 months. As consideration for…