Perpetual Royalty Corporation, United Royalty Corporation, Aberdeen Oil Company, Inc. v. Sarah Kipfer, Ward A. McGinnis Cities Service Oil Company

This is a diversity jurisdiction action wherein plaintiffs-appellants sought to establish claim to certain mineral rights in producing oil properties located in Kansas and for an accounting from defendants-appellees of some $852,000 received as royalties during the eight years preceding institution of the action. The cause was submitted to the trial court upon an agreed statement of facts and resulted in a holding by that court that appellants’ claims were barred by the equitable principles of laches. We hold that the trial court could and did properly apply the bar of laches to appellants’…