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In Nevada, the elements for a claim of breach of fiduciary duty are:

  1. A fiduciary relationship exists between two persons such that one of them is under a duty to act for or give advice for the benefit of another upon matters within the scope of that relationship;
  2. Failure of the party owing the duty to use due care or diligence, act with utmost faith, exercise ordinary skill, or act with reasonable intelligence;
  3. Plaintiff suffered losses or injuries resulting from defendants’ breach of duty; and
  4. Causation and damages.

NRS 78.138-39; Klein v. Freedom Strategic Partners, LLC, 595 F. Supp. 2d 1152, 1162 (D. Nev. 2009)  Stalk v. Mushkin, 125 Nev. 21, 199 P.3d 838 (Nev. 2009); Shoen v. SAC Holding Corp., 122 Nev. 621, 137 P.3d 1171 (Nev. 2006); Foley v. Morse & Mowbray, 109 Nev. 16 (1993); Hoopes v. Hammargren, 725 P. 2d 238 (Nev. 1986); Linland v. United Business Inv., Inc., 693 P.2d 20 (Ore. 1984); 18 Am.Jur 2d Corporations 1695, 1710, 1712-13; Restatement (Second) of Torts  § 874 Cmt. a (1979).

 

See elements for other claims at the Nevada Law Library

About the Author

Jay Young is a Las Vegas, Nevada attorney. His practice focuses on business law, business litigation, and acting as an Arbitrator and Mediator.

Mr. Young can be reached at 702.667.4868 or at jay@h2law.com.