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IP TIMBERLANDS OPERATING CO. LTD. v. DENMISS

No. 96-CA-00140-SCT.

726 So.2d 96 (1998)

IP TIMBERLANDS OPERATING COMPANY, LTD. and International Paper Company v. DENMISS CORPORATION, John H. Hauberg 1982 Living Trust, et al.

Supreme Court of Mississippi.

Rehearing Denied September 17, 1998.

Attorney(s) appearing for the Case

Charles Clark, John G. Corlew, Watkins & Eager, Jackson, Phillip A. Wittmann, Richard C. Stanley, Edwin H. Neill, III, Stone Pigman Walther Wittmann & Hutchinson, New Orleans, LA, Jackie M. Rozier, Jackson, Attorneys for Appellants.

Luther T. Munford, Ross F. Bass, Jr., Michael B. Wallace, William C. Brabec, Phelps Dunbar, Jackson, James A. Smith, Jr., James R. Hennessey, Smith & Leary, Seattle, WA, Attorneys for Appellees.

BEFORE PRATHER, C.J., JAMES L. ROBERTS, Jr. and MILLS, JJ.

JAMES L. ROBERTS, Jr., Justice, for the Court:

STATEMENT OF THE CASE

¶ 1. IP Timberlands Operating Co., and International Paper Company appeal two orders of the Hinds County Circuit Court. In construing a 1945 lease agreement with a purchase option, Judge James E. Graves, Jr., determined as a matter of law that the purchase option unambiguously called for appraisers to fix the lands' value, although...

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