In Hoop v. Kimble (May 28, 2015), the Seventh District Court of Appeals held that forfeiture of an oil and gas lease is not a remedy for a breach of a trade-sale clause. The court noted that in Ohio, courts uniformly hold that the “appropriate remedy for the breach of a clause similar to the trade-sale clause herein where consent of the lessor is required is voiding of the improper assignment and not forfeiture or cancellation of the underlying lease.” Click here to read the court’s decision.
Tags: Ohio, Oil and Gas, Energy
You can expect to find news and breaking legal developments involving the crude oil and natural gas industries, alternative and renewable energy resources, and the latest environmental issues.
Vorys, Sater, Seymour and Pease LLP provides business and legal counsel to clients throughout the United States and around the world. Since its founding in 1909, our firm has grown into one of the largest law firms in the country, with nearly 375 attorneys who are located in nine offices in Ohio, Washington, D.C., Texas, Pennsylvania, California and London.
