YATES EXPLORATION v. VALLEY IMP. ASS'N

No. 17790.

773 P.2d 350 (1989)

108 N.M. 405

YATES EXPLORATION, INC., a New Mexico corporation, Cibola Energy Corporation, a New Mexico corporation, OTEC, a California corporation, Lynn Lucas, Thomas N. Jones, Roger V. Eaton, Charles M. Saggio, Amy N. Saggio, Raymond L. Surrette, Agnes A. Surrette, Raymond L. Surrette, Jr., and May T. Missec, on behalf of themselves and all others similarly situated, Plaintiffs, v. VALLEY IMPROVEMENT ASSOCIATION, INC., a New Mexico corporation, formerly known as Horizon Communities Improvement Association of New Mexico, Inc., Defendant. VALLEY IMPROVEMENT ASSOCIATION, INC., a New Mexico corporation, Third-Party-Plaintiff-Appellant, v. HORIZON CORPORATION, Third-Party-Defendant-Appellee, v. Weldon BURRIS, Third-party Defendant.

Supreme Court of New Mexico.

May 4, 1989.


Attorney(s) appearing for the Case

Lanphere, McBride & Gross, Eric D. Lanphere, Rodey, Dickason, Sloan, Akin & Robb, William S. Dixon, James O. Browning, Charles K. Purcell, Albuquerque, for third-party-plaintiff-appellant.

Modrall, Sperling, Roehl, Harris & Sisk, Kevin T. Riedel, J. Douglas Foster, Albuquerque, for third-party-defendant-appellee Horizon.


OPINION

SCARBOROUGH, Justice.

This suit involves a dispute between a group of persons owning certain subdivision lots, the civic association organized to represent them and the development corporation associated with the subdivisions. The lots were purchased in anticipation of rising residential and commercial development in an area which remains essentially unimproved and unoccupied. Defendant and third-party plaintiff, Valley Improvement Association, Inc...

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