Wood v. Chicago Title Agency of Las Vegas, Inc.

OPINION

FACTS

In 1984 Robert Chapman (“Chapman”) and Dasco, Inc. (“Dasco”) were embroiled in litigation (the “Dasco litigation”). Chicago Title Agency of Las Vegas, Inc. (“Chicago Title”) held in an escrow account (the “account”) money which was the subject matter of the dispute. Chicago Title was not a party to the Dasco litigation.

In March 1986 for valuable consideration, Chapman executed to Wood a promissory note in the amount of $17,092.89. The note was payable “on or before the Dasco Settlement . . . .”

In April 1986 Chapman assigned his interest in the account to Wood. In September 1986…