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ORMSBEE DEVELOPMENT CO. v. GRACE

Nos. 80-1750, 80-1803 and 81-1161.

668 F.2d 1140 (1982)

ORMSBEE DEVELOPMENT COMPANY, a Wyoming corporation, Plaintiff, v. Corrine GRACE and Michael P. Grace, Defendants-Cross Defendants-Appellants, v. SANTA FE PACIFIC RAILROAD, Defendant-Cross Claimant-Appellee.

United States Court of Appeals, Tenth Circuit.

Decided January 4, 1982.

Rehearing Denied February 23, 1982.

Attorney(s) appearing for the Case

Gary W. Davis, Wichita, Kan. (William E. Dakan, Wichita, Kan., with him on the brief) of Martin, Pringle, Fair, Davis & Oliver, Wichita, Kan. (William E. Snead of Ortega & Snead, Albuquerque, N. M., with him on the brief), for Corrine Grace.

Martha Mansell Eskin, Culver City, Cal., and F. Kimball Joyner, Jr. of Jones, Meiklejohn, Kehl & Lyons, Denver, Colo. (Walter L. Reardon, Jr., Albuquerque, N. M., with them on the brief), for Michael P. Grace.

John R. Cooney and Ruth M. Schifani, Albuquerque, N. M. (Peter J. Adang, Albuquerque, N. M., with them on the brief) of Modrall, Sperling, Roehl, Harris & Sisk, Albuquerque, N. M., for Santa Fe Pac. Railroad.

Before BARRETT, DOYLE and SEYMOUR, Circuit Judges.

BARRETT, Circuit Judge.

These consolidated appeals challenge a final judgment of the District Court confirming an arbitration award and an order prohibiting proceeding on an arbitration demand.

In June 1968, Michael P. Grace (Michael) purchased six options from Santa Fe Pacific Railroad (Santa Fe) on property owned by Santa Fe believed to contain uranium-bearing ores in the Grants, New Mexico, area. Each option afforded Michael a three year period within which...

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