Five Keys, Inc. v. Pizza Inn, Inc.

OPINION

RIORDAN, Justice.

On May 1, 1981, Five Keys, Inc. and Ray and Stella Chavez (Plaintiffs) filed suit against Pizza Inn, Inc. (Defendant) seeking damages and a recission of the parties’ Franchise Agreement and Asset Purchase Agreement (Bernalillo County Cause # 81-03139). On May 20,1981, Defendant filed a motion to compel arbitration as required by the parties’ contract. On May 21, 1981, the trial court granted Defendant’s motion and stayed all further court proceedings.

The dispute between the parties went to arbitration and the arbitration hearing ended on September 3, 1981. On October…