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FIRST STATE BK. OF OR. v. PEOPLES NAT. BK. OF WASH.

459 P.2d 984 (1969)

FIRST STATE BANK OF OREGON, a Corporation, Appellant, v. PEOPLES NATIONAL BANK OF WASHINGTON, a National Banking Association, and the Bank of California, N.A., a National Banking Association, Respondents.

Supreme Court of Oregon.

Decided October 22, 1969.

Attorney(s) appearing for the Case

Thomas M. Triplett, Portland, argued the cause for appellant. With him on the briefs were Mautz, Souther, Spaulding, Kinsey & Williamson and John L. Schwabe, Portland.

R.R. Bullivant, Portland, argued the cause for respondents. With him on the brief were Davies, Biggs, Strayer, Stoel & Boley and Cleveland C. Cory, Portland, MacBride & Sax and Kenneth G. Burrows, Seattle, Wash., and Bullivant, Spackman & Wright and C.E. Zollinger, Portland.

Before SLOAN, P.J., and O'CONNELL, GOODWIN, DENECKE and HOLMAN, JJ.

DENECKE, Justice.

The plaintiff, First State Bank, brought this action to recover $100,000 from the two defendant banks upon the ground that payment of such amount by the plaintiff to the defendants was made under a mistake of fact. The defendants' demurrer to plaintiff's complaint was sustained and plaintiff appeals. The facts are as alleged in the complaint.

Otis Jordan and others executed guaranty agreements whereby they guaranteed loans to be made by the...

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