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WALES v. MARLATT

86-141-CV; CA A50728.

798 P.2d 713 (1990)

103 Or.App. 605

William L. WALES and Phyllis Wales, Husband and Wife, Respondents-Cross-Appellants, v. Richard H. MARLATT, Appellant-Cross-Respondent, and Certified Mortgage Company, an Oregon Corporation, Cross-Respondent.

Court of Appeals of Oregon.

Decided October 10, 1990.

Attorney(s) appearing for the Case

Donald R. Crane, Klamath Falls, argued the cause and filed the briefs for appellant-cross-respondent.

Clayton C. Patrick, Salem, argued the cause and filed the briefs for respondents-cross-appellants.

No appearance for cross-respondent Certified Mortg. Co.

Before BUTTLER, P.J., and ROSSMAN and De MUNIZ, JJ.

ROSSMAN, Judge.

Defendant Marlatt1 (defendant) appeals from a judgment in favor of plaintiffs in this professional malpractice action. We reverse.

This action arose as a result of a 1983 transaction in which defendant, an investment counselor, arranged for plaintiffs to purchase for $35,200 a promissory note with a face amount of $40,000 from Commercial Rabbitry and Equipment, Inc. (CRE). The note was secured by a warehouse building...

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