C. G. Johnson v. Las Mendozas, Inc.

This diversity case involves a complicated real estate transaction, the ele ments of which were explained by this Court in an earlier decision. See Las Mendozas, Inc. v. Powell, 5th Cir. 1966, 368 F.2d 445. The particular contractual arrangement before us provided that Las Mendozas would transfer to appellant the common stock of two corporations in exchange for the common stock of the Fairview Apartments in Oklahoma, ten lots in Keller, Texas, and 1,042 acres of land in Missouri. Las Mendozas performed its side of the bargain, but appellant never gave the company a deed to the lots in Keller,…