Teppo has the fee simple to a piece of land called Blackacre. Laila has a mineral lease that allows her to extract oil from beneath Blackacre. Which of the following statements is TRUE?
A) Since the courts no longer apply the "giant carrot theory," Laila did not really need a lease in order to legally extract oil from beneath Blackacre.
B) A mineral lease cannot apply to oil, which is not a mineral.
C) Laila probably acquired her lease from the Crown.
D) Laila owns the oil in question even if she has not yet built an oil well.
E) Teppo can prevent Laila from extracting oil from beneath Blackacre unless he already held the fee simple when she first acquired her lease.
Correct Answer:
Verified
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