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LIFE FIN. INC. X v. AMER. GUARANTY FIN. CORP.

A8406-03797; CA A33151.

704 P.2d 122 (1985)

74 Or.App. 497

LIFE FINANCIAL INCORPORATED X, Appellant, v. AMERICAN GUARANTY FINANCIAL CORPORATION AND PACIFIC WESTERN BANK, Respondents.

Court of Appeals of Oregon.

Decided July 17, 1985.

Attorney(s) appearing for the Case

Jeffrey N. Batchelor, Portland, argued the cause for appellant. With him on the briefs were John P. Bledsoe and Spears, Lubersky, Campbell, Bledsoe, Anderson & Young, Portland.

Jack L. Kennedy, Portland, argued the cause for respondent American Guar. Financial Corp. With him on the brief were Susan E. Watts, Bullivant, Houser, Bailey, Pendergrass, Hoffman, O'Connell & Goyak and Kennedy, King & Zimmer, Portland.

Eugene E. Feltz, Portland, waived appearance for respondent Pacific Western Bank.

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

GILLETTE, Presiding Judge.

Life Financial Incorporated X (Life X) filed this action seeking a declaration that defendant American Guaranty Financial Corporation (AGFC) had not complied with the conditions of an agreement by which Life X was to purchase AGFC's minority holding in American Guaranty Life Insurance Company (AGLIC). Life X also asked the court to enjoin defendant Pacific Western Bank, the escrow agent for the transaction,

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