SCHEID v. SHIELDS


524 P.2d 1209 (1974)

E. Nolan SCHEID, Respondent, v. Clifford A. SHIELDS, Appellant.

Supreme Court of Oregon, In Banc.

Decided August 1, 1974.


Attorney(s) appearing for the Case

Harold D. Gillis, Eugene, argued the cause for appellant. On the briefs were Butler, Husk & Gleaves, Eugene.

Richard Bryson, Eugene, argued the cause for respondent. On the brief were Bryson & Robert, Eugene.


DENECKE, Justice.

Plaintiff recovered a judgment in this action on a promissory note. The defendant appeals principally upon the ground that the plaintiff could not recover because he never had the note in his possession.

The defendant and others borrowed money from a bank to finance a new corporation. They executed a promissory note. Later, this note was replaced by a new note signed solely by defendant. Subsequently, defendant severed his ties with the corporation...

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