Deutsche Bank Trust Company Americas v. Walmsley

Summarized by:

  • Court: Oregon Court of Appeals
  • Area(s) of Law: Contract Law
  • Date Filed: 04-20-2016
  • Case #: A156569
  • Judge(s)/Court Below: Shorr, J. for the Court; Armstrong, P.J.; & Egan, J.
  • Full Text Opinion

Under ORS 73.0301, a person is entitled to enforce a judicial foreclosure on a negotiable instrument by proving only that they possess the instrument.

Walmsley appealed a trial court motion for summary judgment in favor of Deutsche Bank, assigning error to the trial court's grant of summary judgment in favor of Deutsche Bank, arguing that there existed genuine issues of material fact. Walmsley claimed Deutsche Bank could not foreclose on his property because Deutsche Bank did not have possession of the promissory note. Under ORS 73.0301, a person is entitled to enforce a judicial foreclosure on a negotiable instrument "even though the person is not the owner of the instrument of is in wrongful possession of the instrument." Deutsche Bank needed only prove they possessed the instrument, which they did. Affirmed.

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