Peck v. Security Bank of Oregon

McAllister, j.

Plaintiff, Jay R. Peck, brought this action against the Security Bank of Oregon for damages for breach by the bank of an agreement to sell him certain real property. The case was tried by the court without a jury and plaintiff was awarded a judgment in the sum of $45,000. Defendant appeals.

Prior to April 1973 Security Bank acquired title to the Regency Hotel in Portland by foreclosure. After waiting for the redemption period to expire, the bank contracted to sell the hotel, but had to foreclose again because the venture was unprofitable for the new owner.

Again, prior to April…