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FEDERAL LAND BANK, ETC. v. TERRA RESOURCES, INC.

78-174.

373 So.2d 314 (1979)

The FEDERAL LAND BANK OF NEW ORLEANS v. TERRA RESOURCES, INC. et al.

Supreme Court of Alabama.

July 20, 1979.

Attorney(s) appearing for the Case

Sam W. Pipes and Victor H. Lott, Jr., of Lyons, Pipes & Cook, Mobile, and Louis P. Moore, of Holder, Moore & Grocholski, Fayette, for appellant.

Rae M. Crowe and Michael B. Hamar, of Armbrecht, Jackson, DeMouy, Crowe, Holmes & Reeves, Mobile, and Randy Newman, of Nolen & Newman, Fayette, for appellees, Terra Resources, Inc., Natural Resources Corporation, Charles Cherry and William A. Gilespie.

BLOODWORTH, Justice.

The appellant, The Federal Land Bank of New Orleans (Bank), appeals from a summary judgment declaring an instrument entitled "Oil, Gas and Mineral Lease" to be a valid and subsisting lease. We affirm.

On September 5, 1974, the Bank, as lessor, executed an oil, gas and mineral lease to one Homer Lynn, covering an undivided one-half interest in and to all oil, gas and other minerals in and under the North half of the Northeast quarter, Section...

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