Washoe Development Co. v. Guaranty Federal Bank

This is an action under California’s Sister State Money Judgments Act, California Code of Civil Procedure section 1710.10 et seq. (the Act), to enforce a Nevada judgment. Appellants Emil Damia and Washoe Development Company appeal the denial of their separate motions to vacate the entry of the Nevada judgment in California. We affirm.

Facts

The sister-state judgment at the center of this controversy was entered as a result of a settlement agreement among numerous parties, including all the parties to this appeal. As part of the settlement agreement dated June 1, 1987, the parties agreed to file a stipulated judgment jointly and severally against appellants for the sum of $2,925,000. The judgment was to be guaranteed by a note executed by appellants secured by deeds of trust on three properties: one property in Nevada and two properties in San Mateo County, California. The settlement agreement further recites that the note and deeds of tryst are assigned to Irving Savings Association (respondents).

The settlement agreement goes on to provide that the note will be paid according to specified terms and conditions. Upon a breach of the terms of payment of the judgment, the…