Contract terms

Can anyone translate what “WITNESSETH, That the said lessor, for and in consideration of Ten and no/100 DOLLARS, cash in hand paid” means in the Oil and Gas Lease?

To be binding there must be consideration for a contract. This is a time honored method to describe some of the consideration. It doesn’t mean that you are leasing for $10. On that point, never deliver a lease without a check in hand or with your attorney or escrow agent. (read some blogs where people never get paid for leases) If using an attorney the entire lease should be reviewed. Get all cash bonus offers in writing on their letterhead.
Richard Winblad, Attorney

Thank you, Richard. You answered my concern perfectly, as I was worried that the $10 concluded the sell, if you will.

Thank you!