Fain Land & Cattle Co. v. Hassell

I

I dissent. I do not agree with the majority that an exchange of land is a sale simply because a value is assigned to one or all of the properties. I believe the plain meaning of the word “exchange” is the same as used in A.R.S. § 37-604 (Exchange Statute) and in the Enabling Act.

II

The majority states that “an exchange only occurs if no value is assigned to either of the exchanged properties.” The majority cites nine cases in support of this statement. I do not believe these nine cases support the proposition that assigning a value to land transforms an exchange into a sale.

In Gruver v.…