Dugal & Trahan, Ltd. Pension Trust v. Roy O. Martin Lumber Co.

WILLIAM A. CULPEPPER, Judge Pro Tern.

On December 28, 1972, the Globe Corporation (Globe) sold to Roy 0. Martin Lumber Company, Incorporated (Martin) certain standing timber located on a 160 acre tract of land located in St. Landry Parish, Louisiana as evidenced by a “Timber Deed” executed between the parties. The pertinent terms of the agreement were that Martin would obtain the right to remove all hardwood and cypress trees 14” and larger at the stump for a two year period, and that for an additional sum of $300.00 per year, the time in which Martin would be allowed to remove the timber…