World Machine Enterprises v. Intermediate Appellate Court

Summary

World Machine Enterprises sold a printing press to J.R. Lithoplates under a secured transaction. After default, the parties entered a compromise agreement with automatic execution upon violation. When J.R. Lithoplates failed to pay the second installment and claimed a verbal extension was granted, World Machine obtained a writ of execution which was enforced and satisfied. The Court of Appeals recalled the writ, but the Supreme Court reversed, holding that compromise judgments are generally not appealable, have res judicata effect, and cannot be modified without mutual consent. The case establishes that once a writ of execution based on a compromise judgment is satisfied, recall becomes moot and academic.