Sloan v. Hicks

NATHANIEL R. JONES, Circuit Judge.

Appellants, Lola Gay Sloan, Tony Sloan, Lola Bettye Sloan, Ned Sloan, Jimmie Sloan, Margaret Sloan, Bruce Sloan (the Sloans) and John Sloan, appeal from the district court’s judgment, which affirmed the decision of the Bankruptcy Court. Upon consideration of the issues presented by this appeal, we affirm the Bankruptcy Court in part, reverse in part, and remand.

Becknell & Crace Coal Company, Incorporated (Becknell) entered into a “Lease-Purchase Agreement” with the appellants on January 22,1970. After Becknell began mining coal on the land described in the…