Ray v. Ricketts

Plaintiff, the transferee of certain demand notes, brought action against the defendants upon their indorsements. The trial court granted the defendants the equitable relief of reformation, and ordered the indorsements to be reformed so as to read “without recourse”. Upon such reformation, the action evaporated. Plaintiff appeals.

The controlling question is whether the trial court correctly evaluated the evidence. Acting under the requirement of ORS 17.440 that this court try suits de novo, we treat the proceedings below as a suit. The only questions decided were those presented by the…