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GUINASSO v. PACIFIC FIRST FEDERAL

416-583; CA A37437.

749 P.2d 577 (1988)

89 Or.App. 270

Charles B. GUINASSO and Rosaria V. Guinasso, Husband and Wife, Respondents-Cross-Appellants, and Charles B. Guinasso and Rosaria V. Guinasso, Husband and Wife, On Behalf of All Borrowers from Pacific First Federal Savings & Loan Association On Loans Secured by Single-Family Dwellings Who Made Mandatory Advance Reserve Payments of Taxes and Insurance Which Were Held by Pacific First Federal between May 28, 1969 and June 16, 1975, Except for Those Borrowers Whose Lending Instruments Specifically Disclosed That Pacific First Federal Would Pay No Interest While Holding Advance Reserve Payments, Cross-Appellants, v. PACIFIC FIRST FEDERAL Savings and Loan Association, a Federal Savings and Loan Association, Appellant-Cross-Respondent.

Court of Appeals of Oregon.

Decided January 27, 1988.

Attorney(s) appearing for the Case

Donald J. Morgan, Portland, argued the cause for appellant-cross-respondent. With him on the briefs were Peter Livingston and Wood Tatum Mosser Brooke & Landis, Portland.

Phil Goldsmith and Henry Kantor, Portland, argued the cause for respondents and cross-appellants. With them on the briefs were Henry A. Carey, P.C. and Delo, Kantor and Stamm, Portland.

Before RICHARDSON, P.J., and WARDEN and DEITS, JJ.

RICHARDSON, Presiding Judge.

Defendant Pacific First Federal Savings and Loan Association (Pacific) appeals and plaintiffs cross-appeal from the trial court's judgment awarding plaintiffs and the class which they represent unjust enrichment damages and other relief. The controversy arises out of Pacific's failure to pay the class members, between May, 1969, and June, 1975, proceeds derived from Pacific's use and investment of advance reserve payments which the members...

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