Finley v. Spradley

DAVIS, Justice.

This is a declaratory judgment suit to determine the effects of two “term” mineral deeds in connection with certain oil and gas leases. The facts are stipulated' and are as follows:

On July 22, 1936, G. D. Spradley and wife, Iva Spradley, conveyed to W. T. Bourn, Trustee, an undivided 15 acre mineral interest but of two tracts of land containing 97.3 and 20.4 acres situated in the E. W. Gibbs Headright Survey in Panola County, Texas. Immediately following the description of the two tracts,' said mineral deed contains the following provision:

“It is agreed and understood, and is ■…