Mt. Sterling Oil & Gas Co. v. Ratliff

Opinion of the Court by

Judge Settle

Reversing.

Appellant, an Indiana corporation, owned prior to September 1, 1905, certain oil leaseholds in Bath and other counties of Kentucky, which it on that date sold and assigned to Guffey and Galey, Pennsylvania oil men, for a certain consideration based upon a test of production, and then paid, and an additional consideration expressed in the following clause of the written contract between the parties, viz.: “The second parties covenant to render and deliver to the first party, in its crude state, delivered in tanks or pipe lines in the vicinity of the…