Replies to This Discussion

Permalink Reply by W P on April 1, 2009 at 16:16

Glad to here it. I hope the land owner's prevail !!!!

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Permalink Reply by Mollie Walker on April 1, 2009 at 7:55

I don't know about cheasapeake but XTO is not paying on signed leases in Natchitoches parish.

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Permalink Reply by Stacey Avant on April 1, 2009 at 8:10

The leases are not considered legal binding agreements until they are signed, notarized, and RECORDED at the court hourse.

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Permalink Reply by Jack Blake on April 13, 2009 at 10:58

Stacey,
I signed with you. Even though I did not get the crazy big bucks that people who held out another 1-2 months got, I felt like you were up front, honest and overall great to sign with. I got my bank draft as you said I would and it was honored as you said it would be.
I have a question for you. Did some people who signed leases with you NOT get their money?
I hope your answer is "everyone who signed with me got their money as long as their title was good".
LONG LIVE THE HAYNESVILLE SHALE CRIED JACK BLAKE!

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Permalink Reply by herefordsnshale on April 1, 2009 at 11:26

Are we talking about those intent-to-lease forms the companies show you? Are those binding contracts? I thought it had to be signed by both parties to be valid.

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Permalink Reply by Grillin' - MmmMmm on April 2, 2009 at 14:32

KB: do you know if the case you are referring to involved a lease with specific language in it regarding signatures required to be in force? I have seen some other contracts that I work with that have clauses inserted in them that state that the agreement is not valid until both parties sign. And we usually include a separate signing clause as well, but the intent of these clauses is to make sure the contract is only valid if both parties sign.

Could it be that the leases in question are silent regarding the need for both parties execution? The agreement I refer to above is not a lease, it is a Purchase and Sale Agreement. Without the language inserted we were concerned that one party could execute and say the other party was contractually obligated. since we were dealing with big big bucks (hundreds of millions) its better to go belts and suspenders!

I imagine anyone can sue for anything. The real story is in judgements.

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Permalink Reply by Grillin' - MmmMmm on April 2, 2009 at 14:36

My worry about things like this is it can turn into a he said/she said thing. Someone gets a lease form, types in my company's name and signs it and then claims I made them an offer. They could probably come up with a couple of well paid "witnesses" as well! You could really be at the mercy of the judge! Having a contract be deemed binding when only one party signs is worrisome to me.

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Permalink Reply by Grillin' - MmmMmm on April 3, 2009 at 5:10

Thanks for the reply above KB. That makes sense, although I'm still not comfortable being held to a contract that I didn't sign. But maybe companies need to be more careful with their words and letters! Of course that would stop them from doing the "dirty rotten scoundrel" types of things a few of them are doing!!

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Permalink Reply by herefordsnshale on April 1, 2009 at 13:06

Breach of contract is one of those things I've never been able to really get a grasp of. For example: If I go to an auction, bid on and buy several thousand dollars worth of merchandise, then run out the door and not pay for it, could I be sued for breach of contract?

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Permalink Reply by herefordsnshale on April 1, 2009 at 13:16

I can move really fast when I'm motivated! I have always wondered about this. I used to see people back out of timber bids, not a lot, but it has happened. They left a lot of money on the table and would back out and not close the deal. It has happened two or three time when I was the second bidder and ended up getting the timber. There was always huffing and puffing about suing the guy that backed out but nothing ever became of it. A person could not afford to back out many times though, it would destroy your reputation.

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Permalink Reply by Catfish on April 2, 2009 at 4:08

Yep CKH's reputation has gotten that way around these parts.

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Permalink Reply by W P on April 8, 2009 at 6:13

When Cheasapeake was telling people that had leased their land for 200.00 dollors an acre. A deal is a deal. It is funny how their story changes when the shoe is on the other foot.

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