Pilkinton v. Ashley Ann Energy, L.L.C.

hln this case, the appellants recognized that the landowners’ property was subject to an existing oil and gas lease that might terminate in four months at the end of the primary term of that lease. Appellants negotiated with the landowners an agreement for a new lease that would become effective the day after the primary term ended for the existing lease. The appellants paid the landowners the negotiated amount for the contract with a draft conditioned for payment “upon approval of title” *467of the landowners’ property within 20 days. The appellants did not honor the draft, asserting instead…