Segars v. Goodwin

Appellants are the owners of 40 acres of land in Union county, described as southwest, northeast 15-19-14, and on January 9, 1936, entered into an oil and gas lease thereof with E. J. Powledge, trustee, for one year, with the right of renewal for four additional years, contingent on his depositing to the credit of the lessor in the First National Bank of El Dorado the sum of $40, on or before January 9 in each succeeding year, unless a well be sooner commenced thereon. On June 10, 1936, appellants conveyed to appellee Goodwin by warranty deed “an undivided one-half (%) interest in and to all…