Ionian Corp. v. Country Mutual Insurance

MEMORANDUM

This is an interpleader action to determine Precision Seed Cleaners and Ionian Corporation’s respective rights to property and casualty insurance proceeds that Country Mutual Insurance Company deposited with the district court after a fire destroyed a warehouse owned by Ionian and leased by Precision. We affirm in part, reverse in part, vacate in part, and remand to the district court to (1) grant Ionian leave to add a crossclaim for unjust enrichment, and (2) determine each parties’ insured financial interest in the proceeds and award them accordingly.

I

The district court correctly found that Ionian, not Precision, owned the warehouse at the time of the fire. The unambiguous language of the letter agreement contemplated only a future intent to sell the warehouse, see Yogman v. Parrott, 325 Or. 358 , 937 P.2d 1019, 1021 (1997) (en banc), and the absence of terms that are required, or would usually be included, in a land sale contract further evidence that future intent, see Dalton v. Robert John Corp., 209 Or.App. 120 , 146 P.3d 399, 410 (2006). Precision was nothing more than a lessee of the warehouse.

II

The district court appropriately heard Precision’s…