What is the effect of a no contest plea in a civil case?

On January 30, 2017, a plea agreement was reached. Defendants waived their constitutional rights pursuant to Boykin v. Alabama (1969) 395 U.S. 238 and In re Tahl (1969) 1 Cal.3d 122, and were informed of the effect of a no contest plea. The parties stipulated there was a factual basis for the pleas based on the preliminary hearing transcript. Defense counsel (who represented both defendants) stated he had advised defendants of the nature of the charges, consequences of their pleas, and any possible defenses.