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VEREX ASSUR., INC. v. JOHN HANSON SAV. AND LOAN

Nos. 86-3511, 86-3563.

816 F.2d 1296 (1987)

VEREX ASSURANCE, INC., Plaintiff-Appellee, v. JOHN HANSON SAVINGS AND LOAN, INC., Defendant-Appellant, and Maduff & Sons, Inc., First Federal Savings and Loan Association, Defendant. VEREX ASSURANCE, INC., Plaintiff-Appellee, v. MADUFF MORTGAGE CORPORATION, Defendant-Appellant, v. JOHN HANSON SAVINGS & LOAN ASSOCIATION; First City Federal Savings and Loan Association, Defendant-Third Party Plaintiff.

United States Court of Appeals, Ninth Circuit.

Decided January 28, 1987.

Designated for Publication May 11, 1987.

Attorney(s) appearing for the Case

Jack F. Olson, Portland, Or., for plaintiff-appellee.

Jerome I. Braun, San Francisco, Cal., for defendant-appellant John Hanson Savings & Loan, Inc.

Robert P. Stafford, Portland, Or., for defendant-appellant Maduff Mortgage Corp.

Before KOELSCH, GOODWIN and THOMPSON, Circuit Judges.

DAVID R. THOMPSON, Circuit Judge:

In August 1982, Verex Assurance, Inc. ("Verex") insured mortgages for Maduff Mortgage Corporation ("Maduff") that were later sold to John Hanson Savings & Loan, Inc. ("John Hanson"). In November 1983, Verex sought declaratory relief to confirm its attempted rescission of the insurance contracts. The district court granted Verex summary judgment, "affirming its non-liability under the insurance policies," and "dismissing [Maduff...

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