Abandoned Well
Meaning of Abandoned Well in the United States Tax System
See dry hole.
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What does Abandoned well mean in American Law?
The definition of Abandoned well in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:
See generally abandonment. One is not always permitted just to abandon property. When, e.g., an oil well is no longer in use, because it was a dry hole, or has been emptied, or whatever, many states require that the well be plugged to prevent seepage of oil, gas, or water from one stratum to another.
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What is Abandoned Well?
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