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CARLTON CREDITORS v. WILLAMETTE PROD. CR.

85-1351; CA A50997.

798 P.2d 700 (1990)

103 Or.App. 569

CARLTON CREDITORS Association, Inc., an Oregon Corporation, Appellant, v. WILLAMETTE PRODUCTION CREDIT ASSOCIATION IN LIQUIDATION, Federal Intermediate Credit Bank of Spokane, Brent Ciurlino, Hugh Miller and Larry Butterfield, Defendants, and Gordon Bailey Dba Carlton Plants, Respondent.

Court of Appeals of Oregon.

Decided October 10, 1990.

Attorney(s) appearing for the Case

Clayton C. Patrick, Salem, argued the cause for appellant. With him on the briefs was William D. Brandt, Salem.

Thomas W. McPherson, Portland, argued the cause for respondent. With him on the brief was Rankin, VavRosky, Doherty, MacColl & Mersereau, Portland.

Before BUTTLER, P.J., and WARREN and ROSSMAN, JJ.

BUTTLER, Presiding Judge.

Plaintiff, Carlton Creditors Association, Inc., is a corporation formed solely to act as the assignee of the rights of unsecured creditors and stockholders of Carlton Nursery, Inc. (Carlton). It brought this action against Bailey (defendant), alleging the breach of an oral contract by which Bailey agreed to pay the unsecured creditors and stockholders of Carlton about $65,000 apiece a year for three years incident to his purchase of the assets...

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