To obtain equitable relief from a default judgment based on extrinsic mistake, the defendant must show a meritorious defense, a satisfactory excuse for not presenting the defense in a timely manner, and diligence in seeking to set aside default once discovered. This decision holds that the trial court did not abuse its discretion in finding all three of these requirements satisfied. On the merits, the defendant had an ironclad defense; it had sold the property a year before the accident in which plaintiff was injured on the property. The satisfactory excuse was that defendant had not been properly served. Despite an eight year delay in seeking relief after notice of the judgment, defendant was diligent because it was relying on incorrect legal advice given it by its lawyer.