Louisiana Revised Statutes 31:125 – Amount of royalties relevant to reasonableness of lessee’s expectation
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Terms Used In Louisiana Revised Statutes 31:125
- Continuance: Putting off of a hearing ot trial until a later time.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
In applying Article 124, the amount of the royalties being paid may be considered only insofar as it may show the reasonableness of the lessee’s expectation in continuing production. The amount need not be a serious or adequate equivalent for continuance of the lease as compared with the amount of the bonus, rentals, or other sums paid to the lessor.
Acts 1974, No. 50, §1, eff. Jan. 1, 1975.