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FIRST WESTERN MORTGAGE CO. v. HOTEL GEARHART, INC.

488 P.2d 450 (1971)

FIRST WESTERN MORTGAGE CO., an Oregon Corporation, Appellant, v. HOTEL GEARHART, INC., an Oregon Corporation, Respondent.

Supreme Court of Oregon.

Decided September 10, 1971.

Rehearing Denied October 19, 1971.

Attorney(s) appearing for the Case

Leo Levenson, Portland, argued the cause and filed the briefs for appellant.

Lawrence M. Dean, Astoria, argued the cause for respondent. With him on the brief were Macdonald, Dean & McCallister, and Jeanyse R. Snow, Astoria.

Before O'CONNELL, C.J., and McALLISTER, HOLMAN, HOWELL and BRYSON, JJ.

HOWELL, Justice.

Plaintiff filed this suit seeking a dissolution of its joint venture with defendant. Defendant filed an answer and cross complaint requesting a rescission of the joint venture on the grounds of fraud or mistake. The trial court entered a decree granting rescission in favor of defendant, and plaintiff appeals.

The defendant, Hotel Gearhart, Inc., owns and operates a hotel, motel, restaurant and condominium on the Oregon coast at Gearhart. The...

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