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Simple English definitions for legal terms

reasonable-development covenant

Read a random definition: at-issue waiver

A quick definition of reasonable-development covenant:

A reasonable-development covenant is a promise made in an oil-and-gas lease that the lessee will continue to develop the property once production is obtained. This means that they will act like a responsible and careful operator, rather than just holding onto the lease because they already have some production. Essentially, it ensures that the property is being used to its full potential.

A more thorough explanation:

A reasonable-development covenant is a promise made in an oil-and-gas lease that the lessee will continue to develop the property in a reasonable manner once production is obtained. This means that the lessee cannot simply hold onto the lease by the production already obtained, but must continue to explore and develop the property as a reasonably prudent operator would.

For example, if a company leases land for oil and gas exploration and successfully drills a well that produces oil, they are obligated to continue developing the property by drilling additional wells and exploring other areas of the property for potential production. They cannot simply sit on the lease and collect royalties from the existing well.

The reasonable-development covenant is important because it ensures that the property is being developed in a responsible and efficient manner, maximizing the potential for oil and gas production and benefiting both the lessee and the lessor.

reasonable-consumer test | reasonable deviation

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Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.
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