Opinion for the Court filed by Circuit Judge RANDOLPH.
RANDOLPH, Circuit Judge:
Marine Mammal Conservancy, Inc. is a nonprofit organization operating in the Florida Keys. For several years it has been trying to establish its ownership of four dolphins — "Molly," "Luther," "Buck," and "Jake." In 1995, the board of directors of Sugarloaf Dolphin Sanctuary, Inc., which then owned and held the dolphins at Sugarloaf Key, agreed to transfer their ownership...
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