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EUSTIS v. PARK-O-LATOR CORP.

249 Or. 194 (1968)

435 P.2d 802

437 P.2d 734

EUSTIS, ET AL, Appellants, v. PARK-O-LATOR CORPORATION, ET AL, Respondents.

Supreme Court of Oregon.

Affirmed as modified December 20, 1967.

Opinion modified Petition for rehearing denied February 21, 1968.

Attorney(s) appearing for the Case

Leeroy O. Ehlers, Pendleton, argued the cause for appellants. On the briefs were Fabre, Collins & Ehlers, Pendleton.

William F. Thomas, Portland, argued the cause for respondents. With him on the brief were Thomas, Conboy & Leahy and Raymond J. Conboy, Portland.

Fabre, Collins & Ehlers, Pendleton, filed a brief in support of the petition.

No appearance contra.

Before PERRY, Chief Justice, and McALLISTER, SLOAN, O'CONNELL, GOODWIN, DENECKE and HOLMAN, Justices.

AFFIRMED AS MODIFIED.

DENECKE, J.

The defendant Park-O-Lator Corporation was formed to exploit a conveyor system for vehicle parking invented by the defendant Abe Zaha. The plaintiff Eustis paid $4,000 for 50 shares of stock in the defendant corporation; the plaintiffs Slavich did likewise. Eustis, in addition, advanced the corporation $1,100 and the Slaviches advanced $350. Corporate notes were delivered to plaintiffs...

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