LCI, INC. v. Chipman

LARSON, Justice.

When a dispute arose under an installment contract for the sale of an insurance business, the parties agreed to submit the matter to arbitration. See Iowa Code ch. 679A (1995). The arbitrators awarded some relief to each side. The sellers petitioned the district court to vacate the award under Iowa Code section 679A.12. The district court denied the petition to vacate, and the sellers appealed. We affirm.

LCI, Inc. and Michael F. Sharar (sellers) sold an insurance business to Delmar Chip-man, Shirley Chipman, and Agents Insurance Group, Inc. (buyers) under a 1988 agreement as…