In Re the Arbitration Between Lynch & Three Ponds Co.

COYTE, Judge.

Three Ponds Co. appeals from a judgment of the trial court affirming an arbitration award. We affirm in part and reverse in part.

Three Ponds is a joint venture organized in 1971. The joint venture agreement entered into by the parties called for formal arbitration in the case of irreconcilable conflict among the members of the joint venture. The agreement provided that all ar-bitrations were to be conducted pursuant to the rules of the American Arbitration Association. American Arbitration Association Rule 42 provides that the arbitrator can make any award which is just “and…