In re the Arbitration between Holliday & Samuels

Appellant contracted to charter a yacht from respondent for $20,000 and made a $5,000 down payment. Appellant failed to take the yacht and, pursuant to the provisions of the charter, appellant and respondent proceeded to arbitration. Each of the parties appointed an arbitrator and the two arbitrators so chosen selected a third, Ryder. At the proceedings, the three arbitrators heard witnesses, and examined exhibits and briefs. The arbitrators were, however, unable to agree on a decision. At Ryder’s suggestion, the arbitrators appointed by appellant and respondent, at the close of the hearings,…