Legal Opinion
Washington Federal Savings & Loan Ass'n v. McNaughton
Court of Appeals of Washington
Decided May 19, 2014No. 68178-8-IPublishedCited by 2 opinions
1Opinion of the CourtSchindler, J.
¶1 Real estate developers Mark A. and Mama L. McNaughton own The McNaughton Group LLC (TMG). Mark McNaughton signed a promissory note on behalf of TMG for an $11.7 million commercial loan. The note was secured by a deed of trust on two parcels of property owned by TMG. Mark and Marna McNaughton each personally guaranteed payment of the $11.7 million debt to the bank. Following the default on the promissory note and a nonjudicial foreclosure sale of the properties, the bank filed an action for a deficiency judgment against the McNaughtons as the guarantors of the debt. As an affirmative…
2Cases cited28 opinions
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Young v. Key Pharmaceuticals, Inc.Washington Supreme Court · 1989
- State v. ArmendarizWashington Supreme Court · 2007
- State v. ArmendarizWashington Supreme Court · 2007
- Grimwood v. University of Puget Sound, Inc.Washington Supreme Court · 1988
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3Cited by2 opinions
- Linth v. GayCourt of Appeals of Washington · 2015
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