OPINION
MOISE, Justice.
The dealings out of which this litigation arose had their inception in 1961. In that year, defendants-appellees George Dewey and Melba L. Hon, hereinafter referred to as "Hon," entered into a contract with defendant-appellant Joe B. Bain, hereinafter referred to as "Bain," by the terms of which Hon agreed to sell and Bain to buy 290 acres of land and certain water rights located in Luna County...
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