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Code · Kentucky · Chapter 353 — Mineral conservation and development

353.020 Oil and gas lease or contract, when lessor may avoid.

71 words·~1 min read·/ky/chapter-353/353-020

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

If a lease or contract of lands for oil and gas purposes provides in substance that actual drilling or development may be postponed by the payment or tender of the rental on or before a certain day, and the rental is not so paid or tendered, the lessor or landowner may avoid the lease or contract unless before executing a new lease or contract he has accepted payment of the rental.
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