Bergquist v. International Realty, Ltd.

The plaintiffs commenced five separate suits to rescind a contract of sale whereby they purchased undivided fractional. interests in the Spanish Villa, an apartment complex in Washington County, Oregon, for the sum of $600,000 from defendant International Realty, Ltd., a corporation (hereinafter International). Plaintiffs alleged that defendants, in effecting such sales to plaintiffs, engaged in the sale of unregistered, nonexempt “securities” in violation of the Oregon Securities Law, ORS Chapter 59, and sought recovery under the provisions thereof.

The suits, by order of the court pursuant…