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COLORADO CITY DEVELOPMENT CO. v. JONES-HEALY

No. C-1297.

576 P.2d 160 (1978)

COLORADO CITY DEVELOPMENT COMPANY, a Colorado Corporation, Petitioner, v. JONES-HEALY REALTY, INC., a Colorado Corporation, Respondent.

Supreme Court of Colorado, En Banc.

Rehearing Denied April 10, 1978.

Attorney(s) appearing for the Case

Ireland, Stapleton, Pryor & Holmes, Hardin Holmes, Kenneth L. Starr, Denver, for petitioner.

Meer, Wolf & Slatkin, Albert B. Wolf, Walter Slatkin, Irvin M. Kent, Denver, for respondent.

ERICKSON, Justice.

We granted certiorari to review Jones-Healy Realty, Inc. v. Colorado City Development Co., Colo.App., 568 P.2d 88 (1977). We reverse.

Colorado City Development Company (CCDC), petitioner, is a wholly-owned subsidiary of Great Western United Corp. (GWU). In February of 1973, GWU contemplated selling the 11,000-acre ranch (the 3-R Ranch) which CCDC owned. GWU's personnel advised Jones-Healy Realty,...

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