Legal Question in Business Law in Arkansas

Revocation of a Contract

My family owns several acres on which Bromine is mined(the only other place it is mined in the world is michigan and isreal). Many years ago, a relative signed away the bromine rights in favor of top of the land rights, so that foresting companies could walk accross his land. My family feels that he was not intelligent enough to have understood what he was signing, nor were we consulted, thus he essentially acted as an authority on our behalf, which is grounds for nullification of a contract. We would like to have this contract nullified in favor of a contract that offers us bromine rights. Please also note that within the past few years the parent company of our bromine producing land has grossed profits in the 100 billions, and we would be entitled to about 1/30 of all profits were we to win new rights.


Asked on 11/11/01, 6:43 am

4 Answers from Attorneys
Mark Siegel Law Offices of Mark J. Siegel

Re: Revocation of a Contract

Please call me at 214-520-0000. Thank you, Mark Siegel.

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Answered on 11/11/01, 1:11 pm
Donovan Hutchins Mason, Coplen, Shuchart, Hutchins & Banks, P.C.

Re: Revocation of a Contract

You need a lawyer to handle this complicated issue. Call me at 713-785-5595.

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Answered on 11/11/01, 10:34 pm
Alan Crone Crone & McEvoy, PLC

Re: Revocation of a Contract

The issues you raise are very complicated. In order to answer your question properly more information. I need to know when your relative signed the contract. When did you find out about it? I need to know whether he had a power of attorney, trustee's powers, or other legal or contractual powers which would have given him legal authority to sign away your rights. Without such powers he probably had no authority to do so.

If in fact he had the authority to contract away your rights, then we need to explore whether or not he was competent. If he was not, why not? Did you know about it? If you did, why did you continue to allow him to use power on your behalf?

You should spend some time with an attorney going over all of these questions and answers. If I can be of any further assistance, please do not hesitate to contact me.

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Answered on 11/12/01, 10:45 am
Paul Velte IV Paul C. Velte IV, Attorney at Law

Re: Revocation of a Contract

The answer to your question depends on whether your relative owned the property alone or with others at the time; whether he was mentally competent at the time (and you can prove he wasn't); and how long ago this all happened. If it was longer than 25 years, you're out of luck even if he was incompetent.

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Answered on 11/13/01, 4:24 pm


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