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NORCREST CHINA COMPANY v. TERRY

502 P.2d 242 (1972)

NORCREST CHINA COMPANY, an Oregon Corporation, Respondent, v. Stanley G. TERRY and Gladys R. Terry, Husband and Wife, Appellants, Lester M. John et al., Defendants.

Supreme Court of Oregon, In Banc.

Decided October 27, 1972.

Attorney(s) appearing for the Case

Richard Maizels, Portland, argued the cause for appellants. With him on the brief were Maizels & Marquoit, Portland.

William J. Daw, Portland, argued the cause and filed a brief for respondent.

BRYSON, Justice.

This is a suit to foreclose a mortgage given by the defendants to secure performance of an indemnity agreement. Defendants Stanley G. Terry and Gladys R. Terry appeal from the decree in favor of plaintiff. The facts are as follows: The plaintiff purchased the Norcrest China Building from defendants Terry. At the time of sale there were two judgment liens of record against the defendant Stanley G. Terry: Martin v. Terry, $13,405.53; and Simmons v....

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