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SOUTHERN OREGON PRODUCTION CREDIT v. GEANEY

No. CA A27360; SC S30776.

692 P.2d 83 (1984)

298 Or. 222

SOUTHERN OREGON PRODUCTION CREDIT Association, a Corporation, Respondent On Review, v. Robert C. GEANEY and Lulamarie Geaney, Husband and Wife, and Cedar Point Livestock, Inc., an Oregon Corporation, Petitioners On Review, Coos County, Oregon, a Political Subdivision of the State of Oregon, and Pacific Power & Light Company, a Foreign Corporation, Defendants.

Supreme Court of Oregon, In Banc.

Decided November 27, 1984.

Attorney(s) appearing for the Case

Jacquelyn Romm, Eugene, argued the cause for petitioners on review. With her on the petition for review and briefs was Cass, Scott, Woods & Smith, Eugene.

Richard A. Stark, Medford, argued the cause for respondent on review. With him on the brief was Haviland & Stark, Medford.

PETERSON, Chief Justice.

Plaintiff lent money to defendants,1 who signed promissory notes containing this clause:

"* * * for value received, the undersigned, jointly and severally, promise to pay to the order of Southern Oregon Production Credit Association, * * * [amount] dollars in lawful money of the United States of America, with interest thereon in like money at the rate of 14.4 percent...

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