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GAS-ICE CORPORATION v. NEWBERN

514 P.2d 59 (1973)

GAS-ICE CORPORATION, a Washington Corporation, Appellant, v. R.B. NEWBERN, Individually and As Executor of the Estate of Lula P. Newbern, Respondent.

Supreme Court of Oregon, In Banc.

Decided September 20, 1973.

Attorney(s) appearing for the Case

Kenneth M. Novack, Portland, argued the cause for appellant. With him on the brief were Hall & Novack and Bruce M. Hall, Portland.

Nels Peterson, Portland, argued the cause for respondent. With him on the brief were Jack H. Cairns and Peterson, Chaivoe & Peterson, Portland.

TONGUE, Justice.

This is the second appeal to this court in this case. Upon the first appeal we modified a decree by the trial court in favor of defendant by holding that two insurance policies upon the life of defendant R.B. Newbern, but purchased with funds belonging to plaintiff corporation, were assets belonging to the corporation and that defendant Newbern, who had taken possession of the policies on March 6, 1968, must "pay to plaintiff the cash value of the...

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