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PACIFIC FIRST BANK v. NEW MORGAN PARK CORP.

CC 9010-06729; CA A71494; SC S40692.

876 P.2d 761 (1994)

319 Or. 342

PACIFIC FIRST BANK, a Federal Savings Bank, by successor in interest Washington Mutual, a Federal Savings Bank, Petitioner on Review, v. The NEW MORGAN PARK CORPORATION, a Delaware corporation, Respondent on Review.

Supreme Court of Oregon.

Decided July 21, 1994.

Attorney(s) appearing for the Case

Barnes H. Ellis, of Stoel Rives Boley Jones & Grey, Portland, argued the cause for petitioner on review. With him on the petitions were Joyce A. Harpole and Mary K. VanderWeele.

Thomas W. Sondag, of Lane Powell Spears Lubersky, Portland, argued the cause for respondent on review. With him on the responses was James H. Clarke.

Before CARSON, C.J., and GILLETTE, VAN HOOMISSEN, FADELEY, UNIS and GRABER, JJ.

GRABER, Justice.

This case involves a commercial lease and presents the following questions: (1) Under a lease agreement providing that the tenant "shall not assign, sell, mortgage, pledge or in any manner transfer the Lease or interest herein whether voluntary or involuntary or by operation of law * * * without the prior written consent of the Landlord," was the tenant required to obtain the landlord's consent when the tenant merged into its wholly owned subsidiary...

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