MEYERS v. ARNOLD

No. 38804; CA A20754.

645 P.2d 577 (1982)

Vernon D. MEYERS and Catherine A. Meyers, Husband and Wife, Appellants, v. David L. ARNOLD and Maxine L. Arnold, Husband and Wife, Respondents. David L. Arnold and Maxine L. Arnold, Husband and Wife, Third-Party Plaintiffs-Respondents, v. David L. Cole, Third-Party Defendant-Respondent.

Court of Appeals of Oregon.

Decided May 26, 1982.


Attorney(s) appearing for the Case

Evan P. Boone, Newport, argued the cause for appellants. With him on the briefs was Minor, Yeck & Beeson, Newport.

J.W. Walton, Corvallis, argued the cause for third-party plaintiffs-respondents. With him on the brief was Ringo, Walton, Eves & Gardner, Corvallis.

James M. Gillis, Newport, argued the cause for third-party defendant-respondent. With him on the brief was Litchfield, Macpherson, Carstens & Gillis, Newport.

Before GILLETTE, P.J., YOUNG, J., and ROBERTS, J. Pro Tem.


GILLETTE, Presiding Judge.

Plaintiffs appeal from a judgment for defendant on the pleadings in this action to recover the balance allegedly due on a promissory note and to foreclose an alleged security interest in personal property. We reverse.

This dispute arose after plaintiffs (the secured parties) sold a service station business to defendants (debtors). The pleadings allege the following facts: Defendants executed a promissory note in favor of the plaintiffs...

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