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WARD v. BEEM CORPORATION

437 P.2d 483 (1968)

E.A. WARD and Florence M. Ward, Husband and Wife, Respondents, v. The BEEM CORPORATION, Martin Barnett, Dba Western Motels and Investments, Oregon Adjustment Bureau, an Oregon Corporation, Harry K. Tickler and A. Louise Tickler, Husband and Wife, Colburn R. Thomason and Valdene R. Thomason, Husband and Wife, National Motel Listings, Inc., a Corporation, Appellants.

Supreme Court of Oregon, Department 1.

Decided February 21, 1968.

Attorney(s) appearing for the Case

Carl M. Felker, Roseburg, argued the cause for appellants. With him on the briefs were Geddes, Felker, Walton & Richmond, Roseburg.

Edward M. Murphy, Roseburg, argued the cause for respondents. With him on the brief were Stults, Jayne & Murphy, Roseburg.

Before PERRY, C.J., and McALLISTER, O'CONNELL, DENECKE and LANGTRY, JJ.

O'CONNELL, Justice.

This is a suit in which plaintiffs seek a declaratory judgment pronouncing that defendants' second mortgage and the indebtedness supporting it were legally discharged by previous foreclosure proceedings. Defendants appeal from a decree granting plaintiffs' prayer for relief.

Plaintiffs purchased Cavalier Lodge in Roseburg from The Beem Corporation. As consideration for the transfer plaintiffs assumed a first mortgage on the property, transferred...

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