Cowan v. Radford Iron Co
Decision Date | 30 June 1887 |
Citation | 83 Va. 547,3 S.E. 120 |
Parties | Cowan v. Radford Iron Co. |
Court | Virginia Supreme Court |
Mining Lease—Construction—Abandonment—Termination of Estate.
Where, under a mining lease, the ore and minerals were sold, and the lessee invested with mining rights which were to begin at any time after the date pf the agreement, the compensation to be paid quarterly as the ore was mined, but no time was specified for the work to end, or the rights to expire, but the lessee was given the right and privilege of removing from the leased premises at any time any machinery, buildings, fixtures, or improvements made or erected upon it by the lessee, held, that the lessee, having the right to terminate the lease at any time, and having abandoned the work, failed to mine, and to make the quarterly payments as the lease provided, thereby terminated the estate; and, having refused to execute the contract according to its plain and reasonable interpretation, could not maintain any other rights concerning the same, and equity would decree a rescission and cancellation of the agreement of record.
Appeal from circuit court, Pulaski county.
J. C. Wysor, for appellant. J. E. Moore, for appellee.
This is an appeal from a decree of the circuit court of Pulaski county, rendered at the March term of the said court, 1885. The bill was filed in January, 1884, to have rescission of an agreement made between the parties in 1880, for the sale of the iron ore on the farm of the appellant, which agreement is as follows:
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