The most important implied covenant in an oil and gas lease is that the lessee must continue to develop the underlying resources according to the agreement.
<h3>What is an implied covenant?</h3>
An implied covenant is a contract rule to require parties in a contract to implement the intended terms of the agreement.
The purpose of an implied covenant is to ensure that the parties do not undercut the purpose of the contract.
Other essential covenants are that the lessee of an oil and gas lease must protect and administer the leasehold.
Thus, the most important implied covenant in an oil and gas lease is that the lessee must continue to develop the underlying resources
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Answer:
The high cost of real estate may make the prospect of investing in real property ownership seem impossible to many. However, it also encourages people to think creatively to surmount this obstacle. Examples of creative avenues to allowing otherwise prohibitive property investment include establishing a partnership, engaging in a joint venture with someone who has a surplus of capital, or becoming a tenant in common in a property purchase.
Answer: b. the interests of Texas in resolving the case outweigh the interests of South Carolina
Explanation:
Suppose an airplane crashes in Arkansas, injuring four passengers who file suit in South Carolina court. If the plane manufacturer is in Texas, the plane left from Texas to go to Virginia, and all injured parties are from Texas, an attorney for the pilot of the plane, if he seeks to keep the case in Texas, should argue that, under the conflict-of-laws rules: the interests of Texas in resolving the case outweigh the interests of South Carolina.
Answer:
The Commerce Clause (Art. I, §8, cl. 3) of the United States Constitution provides that the Congress shall have the power to regulate interstate and foreign commerce. The plain meaning of this language might indicate a limited power to regulate commercial trade between persons in one state and persons outside of that state.
Explanation:
I think it depends on how the person is acting up