SEATTLE-FIRST NATIONAL BANK V. OREGON PACIFIC INDUSTRIES
500 P.2d 1033 (1972)
NATURE OF THE CASE: This was a dispute over a setoff. Oregon (D), purchaser, appealed
from a judgment, which found in favor of Seattle (P), bank, in P's action against D for the
amount of an invoice assigned to the bank for plywood bought by Dr. The trial court denied
D's right to a setoff.
FACTS: Oregon Pacific (D) purchased plywood from Centralia. Centralia assigned the
invoice to Seattle First (P) and P notified D of the assignment on December 13. D refused
payment and P sued D. D defends the action based on setoffs. Prior to the assignment of the
invoice in question, D placed two orders for plywood with Centralia that were not included
in the assigned invoice. Delivery of those orders was never completed by Centralia and D
claims that it can offset the invoice P held with the damages suffered from nondelivery.
Centralia was insolvent at the time it assigned the invoice to P and P knew that. The trial
court gave the judgment to P and D appealed.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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