Land v. Land

HALL, Justice:

Defendant appeals, challenging the district court’s interpretation of the term “equity” as it appears in the stipulation and property settlement agreement of the parties.

Plaintiff obtained a decree of divorce from defendant on November 19, 1974. Said decree specifically adopted the provisions of the written stipulation in question, and, where pertinent to this appeal, the stipulation provided:

7. The parties agree that the business known as the Eat’n House located at Salt Lake City, Utah, shall be awarded entirely to Defendant with Defendant having full ownership of all assets…