Arkansas Drilling Co. v. Burma Oil & Gas Co.

(after stating the case as above).

Stated in the order of propositions in its brief, the appellant Arkansas Drilling Company, in substance, makes the following contentions :(1) That the transaction of October 10, 1931, wherein the Burma Oil & Gas Company executed its assignment conveying to Arkansas Drilling Company the five-eighths leasehold interest, and the Arkansas Drilling Company executed its letter agreeing to reconvey the property upon payment.by Burma Oil & Gas Company of $9,000 within fifteen days, was a conditional sale, and the court erred in holding it to be a mortgage;(2) That…