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THORMAHLEN v. CITIZENS SAVINGS AND LOAN

81-2560-J-3; CA A28839.

698 P.2d 512 (1985)

73 Or.App. 230

Philip THORMAHLEN, Sharon Thormahlen, Husband and Wife, and Donald Gorman, Appellants, v. CITIZENS SAVINGS AND LOAN, a Corporation, Respondent.

Court of Appeals of Oregon.

Decided April 17, 1985.

Reconsideration Denied June 7, 1985.

Attorney(s) appearing for the Case

Dennis H. Elliott, Portland, argued the cause for appellants. With him on the briefs was Elliott & Freedman, Portland.

Mark S. Wolfe, Portland, argued the cause for respondent. With him on the brief was Robertson, Huycke & Michele, Portland.

Before BUTTLER, P.J., and WARREN and VAN HOOMISSEN, JJ.

BUTTLER, Presiding Judge.

Plaintiffs brought this action for damages against defendant, their construction lender, contending that defendant breached its contractual and common-law duties to them by disbursing construction loan funds in excess of the percentage of completion of a project known as the Ravenwood Condominiums. They also sought rescission of two deeds of trust given to defendant to secure additional financing...

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