Machine Tool & Equipment Corp. v. Reconstruction Finance Corp.

Appellant, an Arkansas corporation, instituted the instant action in the Oregon state court against the Reconstruction Finance Corporation, a corporation existing under the laws of the United States (herein referred to as R. F. G), seeking a decree declaring it to be the equitable owner of certain railroad materials, equipment and supplies, and requiring R. F. C. to transfer the legal title and possession to appellant upon the payment of the alleged agreed price of $32,453. The complaint alleged that R. F. C. had contracted to sell said property to the plaintiff for the sum of $32,453, and this is followed by a recital that equitable title to the property is in the plaintiff.

*549 It is further alleged that R. F. C., by its course of conduct, induced the plaintiff-appellant to incur an expense of $5,075, and in addition thereto, caused the plaintiff’s representative to spend an incalculable amount of time and energy in connection with the transaction.

There is an allegation that because of the studies, which plaintiff made of the property, and the manner of providing transportation therefor, and of its unique location, and because of the nature of plaintiffs business and its…