Stilley v. Illinois Central R. R.

Coleman, 0.

On February 27, 1943, E. B. Ellis was the owner of a lease from the T. & M. V. R. Co. to a lot situated in the City of Jackson. This lease was scheduled to expire on December 31, 1946. Ellis had erected buildings on the land. John S. Stilley, the appellant, purchased the lease and buildings from Ellis for a cash consideration. The lease was not transferred to Stilley, hut, instead, on March 1, 1943, was reissued to him on the regular lease form customarily used by the Railroad Company. By its written terms, the lease was to expire on December 31, 1946, the same date as the…