Title: Christensen v. McAtee
Citation: 473 P.2d 659
Docket Number: N/A
State: Oregon
Issuer: Oregon Supreme Court
Date: August 19, 1970

473 P.2d 659 (1970)
David H. CHRISTENSEN, Respondent,
v.
Paul W. McAtee, McAtee Builders, Inc., an Oregon Corporation, and Does I to III, Appellants.

Supreme Court of Oregon, In Banc.
Argued and Submitted June 4, 1970.
Decided August 19, 1970.
Quentin D. Steele, Klamath Falls, argued the cause and filed a brief for appellants.
Robert D. Boivin, Klamath Falls, argued the cause for respondent. With him on the brief were Boivin, Boivin &amp; Kosta, Klamath Falls.
DENECKE, Justice.
The plaintiff secured a judgment on a promissory note executed by the defendants, and the defendant Paul McAtee appeals. The note was secured by a mortgage executed by the defendant McAtee Builders, Inc., on real property owned by McAtee Builders, Inc. Paul McAtee's defense was that he was discharged from his obligation because plaintiff, without Paul McAtee's consent, released the mortgage given by McAtee Builders.
Section 73.6060(1) (b) of the Uniform Commercial Code provides:
The trial court in its written opinion correctly stated:
*660 The trial court found:
No direct evidence of value was introduced. Plaintiff urges that generally the value of property mortgaged exceeds the amount of the debt. Assuming this to be true, it does not create such an overwhelming inference that we must conclude error in the trial court's finding of no satisfactory evidence of value of the security released.
Affirmed.