West Portland Development Co. v. Ward Cook, Inc.

The issue on appeal concerns the acceleration clauses in a note and trust deed. The debtor brought this action to recover an alleged illegal overpayment compelled by actionable duress.

Defendant Ward Cook, Inc. (Cook), lent plaintiff West Portland Development Co. (Development Co.) $500,000 to build an apartment. The obligation was evidenced by a note and secured by a trust deed running to the title company and for the benefit of Cook. The note provided it was to be paid in monthly installments with the final payment due in September, 1982. It further provided that in the event of a default the…