Bartley v. Big Branch Coal Co.
| Decision Date | 07 October 1914 |
| Citation | 160 Ky. 123,169 S.W. 601 |
| Parties | BARTLEY ET AL. v. BIG BRANCH COAL CO. ET AL. |
| Court | Kentucky Court of Appeals |
Appeal from Circuit Court, Pike County.
Suit by the Big Branch Coal Company and others against Elvira Bartley and others. Decree for complainants, and defendants appeal. Affirmed.
Childers & Childers, and J. S. Cline, all of Pikeville, for appellants.
J. M Roberson and R. H. Cooper, both of Pikeville, for appellees.
This action was brought to enforce the specific execution of the following contract:
"This agreement made this twelfth day of March 1907, by and between Jos. W. Cockill, hereafter known as the party of the first part, and B. M. Bartley hereinafter known as the party of the second part, both of Lookout, county of Pike and state of Kentucky: Witnesseth, that the said party of the first part is about to become the possessor of a certain lease of coal land from the Big Sandy Company known as the Big Branch Sycamore Lease, lying between Big Branch and Sycamore creeks.
And as the said party of the second part is the owner of the surface and other rights of part of this lease, it is agreed by the said party of the second part to deed this surface and other rights to a corporation which will be formed and of which the said party of the first part will be one of the incorporators. The said party of the first part being bound to assign to said corporation all the rights as given him under the proposed lease to him from the said Big Sandy Company.
Now, in consideration of this deed from the said party of the second part to this corporation, it is understood that the said party of the second part shall receive seventy (70) shares of the capital stock of this corporation. Said shares being of par value of ($100) one hundred dollars each. It is further understood this said corporation shall not be capitalized to exceed eighty thousand ($80000) dollars.
Any buildings and improvements not essential for the development of said leased property can be removed from premises by the said party of the second part prior to January 1, 1908, provided said improvements are not in way of developments.
The party of second part grants the rights to the party of the first part to enter in upon the premises and begin developments and continue operation at once.
The present road along Sycamore creek is to be kept open and maintained for the benefit of both parties.
Witness our hands and seals the date first written.
J. W. Cockill. [ Seal.]
B. M. Bartley. [ Seal.]
Witness: R. S. Johnson.
J. A. Bartley.
It is understood that said deed from said party of the second part to the said corporation is not to be made until (50%) fifty per cent. of the stock has been paid and developments on the property be made in proportion to such payments.
March 12, 1907.
J. W. Cockill. [ Seal.]
B. M. Bartley. [ Seal.]
Witness: R. S. Johnson.
W. D. Bartley."
After the making of the contract, Cockill became the owner of the coal lease of the Big Sandy Company. The corporation was formed, and 70 shares of stock were issued to Bartley. The other stockholders put up $42,000, which was used in installing and equipping a coal plant on the property, which they operated from that time on. But Bartley failed to execute a deed to the corporation for the surface of the land. He died before the suit was brought, and the action was brought against his widow and children. A short time before his death he conveyed the land described in the contract also the shares of stock in the corporation, in consideration of love and affection to his wife and two of his children. They resisted the specific performance of the contract on the ground that it was obtained by fraud, and was so inequitable and one-sided that it should not be...
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