Louisiana Revised Statutes 30:140 – Compliance with agreement as compliance with lease
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Terms Used In Louisiana Revised Statutes 30:140
- Contract: A legal written agreement that becomes binding when signed.
- 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
The compliance by any mineral lessee or other party with the provisions of any agreement executed pursuant to the provisions of La. Rev. Stat. 30:137 to 30:141, or ratified in La. Rev. Stat. 30:139, shall with respect to the subject matter of such agreement, be deemed a full compliance with the provisions of the mineral lease or other contract affected by said agreement.
Acts 1963, No. 13, §4.