Fbw Enterprises, a Nevada General Partnership v. The Victorio Company, an Arizona Corporation

CANBY, Circuit Judge:

The issue in this case is whether the protections of Nevada’s "one action” rule and deficiency judgment statutes, Nev.Rev. Stat. 40.430 & 40.451-40.459, apply to a creditor’s action against a guarantor of a secured debt. We conclude that the deficiency judgment statutes apply, and reverse the summary judgment rendered in the district court in favor of the appellee.

BACKGROUND

The material facts in this case are undisputed. In February, 1982, Victorio Investment Company (Investment Company), a California limited partnership, purchased from plaintiff-appellee FBW Enterprises…