W. M. Barnes Co. v. Sohio Natural Resources Co.

STEWART, Justice:

Plaintiff, W. M. Barnes Company (“Barnes”), appeals from the summary judgment of the district court which quieted title to a 37½ percent interest in real property in defendant, Sohio Natural Resources Company (“Sohio”). Barnes asserts that the documents relied on by the court in granting summary judgment represented security for a loan and not a sale.

The property in question is part of an overall parcel consisting of some 5,000 acres located in Uintah County, Utah, and is known as the Asphalt Ridge Properties. The economic value of the property lies principally in the…