William F. Callejo-Borges v. William J. Rochelle, Jr., Trustee for Buckingham Country Club, Inc., Bankrupt

CONNALLY, District Judge.

Buckingham Country Club, Inc. heretofore has been adjudicated a bankrupt and the estate presently is in the course of administration. Appellee is the duly elected and qualified trustee of the estate.

Immediately prior to the bankruptcy proceeding, the Club was in possession of a tract of 171 acres of land which was owned by one Cain. The possession was enjoyed under terms of a contract or option to purchase. As the property has enhanced in value, appellee, as trustee of the estate, contended in the bankruptcy court that this contract to purchase was a valid and…