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LAXRIS (large area x-ray imaging spectrometer) is an experimental, balloon-borne, hard x-ray telescope that consists of a coaligned array of x-ray imaging spectrometer modules capable of obtaining high angular resolution (1--3 arcminutes) with moderate energy resolution in the 20- to 300-keV region. Each spectrometer module consists of a CsI(Na) crystal coupled to a position-sensitive phototube with a crossed-wire, resistive readout. Imaging is provided by a coded aperture mask with a 4-m focal length. The high angular resolution is coupled with rather large area (/approximately/800 cm/sup 2/) to provide good sensitivity. Results are presented on performance and overall design. Sensitivity estimates are derived from a Monte-Carlo code developed to model the LAXRIS response to background encountered at balloon altitudes. We discuss a variety of observations made feasible by high angular resolution. For instance, spatially resolving the nonthermal x-ray emission from clusters of galaxies is suggested as an ideal program for LAXRIS. 15 refs., 5 figs.