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GARDNER v. FIRST ESCROW CORP.

81-9-425; CA A29273.

696 P.2d 1172 (1985)

72 Or.App. 715

Melvin H. GARDNER and Belva H. Gardner, Husband and Wife, Lee C. Atkin and George L. Gardner, Appellants-Cross-Respondents, v. FIRST ESCROW CORPORATION, an Oregon Corporation, and Richard J. Reierson, Respondents-Cross-Appellants, Midland Insurance Company, a New York Corporation, Carma J. Daniels, and Oregon-Oslake, an Oregon Corporation, Respondents. Midland Insurance Company, a New York Corporation, Third Party Plaintiff, v. Richard J. Reierson and Carma J. Daniels, Third Party Defendants.

Court of Appeals of Oregon.

Decided March 20, 1985.

Reconsideration Denied May 10, 1985.

Attorney(s) appearing for the Case

William J. Howe, III, Portland, argued the cause for appellants-cross-respondents. On the briefs were Robert Harris, and Howe & Harris, Portland.

Terry G. DeSylvia, Portland, argued the cause and filed the briefs for respondents-cross-appellants First Escrow Corp., and Oregon corp., and Richard J. Reierson, and respondent Oregon-Oslake, an Oregon corp.

Michael J. Caro, Portland, argued the cause for respondent Midland Ins. Co., a New York corp. On the brief were David R. Trachtenberg, and Kobin & Meyer, P.C., Portland.

Dennis H. Henninger, Lake Oswego, argued the cause and filed the brief for respondent Carma J. Daniels.

Before GILLETTE, P.J., and VAN HOOMISSEN and YOUNG, JJ.

VAN HOOMISSEN, Judge.

Plaintiffs' claim for damages in this case arises out of an exchange of real property. Laeger, an Oregon real estate broker, asked plaintiffs whether they would exchange their Nevada ranch for property in Oregon owned by Praggastis, Laeger's disclosed principal. Plaintiffs agreed to the exchange. Praggastis is not a party to this action.

Under the terms of the exchange agreement, Laeger was to convey title to Praggastis' Clackamas and...

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