Cherokee Water Co. v. Forderhause

ROBERTSON, Justice.

Martha Forderhause and others sued Cherokee Water Company seeking reformation of a deed provision which granted Cherokee a right of first refusal on all oil and gas leases. The deed provision in question provides:

Grantee is hereby given the first option to purchase the oil, gas and other minerals herein reserved, at the same price and on the same terms as Grantor has agreed to sell to a third party; such option to be accepted or rejected within five (5) days after Grantee has been furnished with the bona fide offer made by such third party. Failure to exercise such option…