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AMERICAN OIL COMPANY v. RASAR

308 S.W.2d 486 (1957)

AMERICAN OIL COMPANY v. George W. RASAR et al.

Supreme Court of Tennessee.

December 6, 1957.

Attorney(s) appearing for the Case

Cox, Epps, Powell & Weller, Johnson City, for appellants.

J. Malcolm Shull, Elizabethton, Simmonds, Bowman & Herndon, Johnson City, for appellees.

BURNETT, Justice.

The question for determination in this lawsuit is: Did the Oil Company, as the assignee under a registered assignment from the lessee, properly exercise its rights to an option as given under the said lease contract for a renewal of said contract for the first five-year renewal period?

On March 2, 1950, one Myers and wife who were the owners of a tract of land in Carter County, Tennessee, leased...

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