Field v. Haupert

This case involves an action against defendant as guarantor on a promissory note payable to plaintiff. The trial court ruled that one of defendant’s affirmative defenses constituted a complete defense to plaintiffs claim and entered judgment in favor of defendant. Plaintiff appeals.

Plaintiff was the president of Continental Trans-Com, an Oregon corporation. He was terminated at a special meeting of the Board of Directors of Continental Trans-Com in December, 1976. Following the termination, an agreement between plaintiff and the company for the transfer of plaintiffs shares of stock and…