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UNION BOND & TRUST COMPANY v. BLUE CREEK REDWOOD CO.

No. 33618.

128 F.Supp. 709 (1955)

UNION BOND & TRUST COMPANY, a corporation, Plaintiff, v. BLUE CREEK REDWOOD COMPANY, Inc., Harold L. Ward, et al., Defendants. Harold L. WARD et al., Cross-complainants, v. UNION BOND & TRUST COMPANY, a corporation, et al., Cross-defendants.

United States District Court, N. D. California, S. D.

February 10, 1955.

Attorney(s) appearing for the Case

A. B. Dunne, Dunne, Dunne & Phelps, San Francisco, Cal., for plaintiff and cross-defendants.

Carlton L. Rank, Herman Cook, Hardin, Fletcher, Cook & Hayes, Oakland, Cal., for defendants and cross-complainants.

GOODMAN, District Judge.

This diversity case1 poses the troublesome question of the nature and extent of the power of this Court, under uncertain California law, to mold a just and appropriate equity decree.

The assignors of the parties litigant, in May of 1946, entered into a timber purchase contract. The contract vendee agreed to purchase from the vendor certain timber lands for a price of $750,000 to be paid out of the proceeds...

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