Rains v. Walby

George C. Rains, plaintiff, initiated this action against L. J. Walby and the estate of Joseph H. Lewis, defendants, for an accounting pursuant to an agreement dated January 12, 1957, or, in the alternative, pursuant to an agreement dated January 7, 1958. The claim against the Lewis estate was settled and the matter proceeded to trial between the plaintiff Rains and the defendant Walby on stipulated facts.

In 1955, Rains was the holder of options to purchase two parcels of land and timber on the Osa Peninsula in Costa Rica. One parcel known as the Gutierrez Timberlands contained 108,000 acres,…