Elements of the Remedy of an Accounting

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In Nevada, the elements required to allow a remedy of an accounting are:

  1. A fiduciary relationship exists between plaintiff and defendant;
  2. The relationship between plaintiff and defendant is founded in trust and confidence; and
  3. Defendant has a duty to render an accounting to plaintiff to determine damages resulting form any misallocation of funds.

NRS 78; G. K. Las Vegas, Ltd. P’ship v. Simon Prop. Grp., Inc., 460 F. Supp. 2d 1246 (D. Nev. 2006); Foley v. Mowbray, 109 Nev. 116 (1993); In re Maxim Integrated Prod., Inc., Deriv. Lit., 574 F. Supp. 2d 1046 (N.D. Cal. 2008)(citing Carlson v. Hallinan, 925 A.2d 506, 538 n. 211-12 (Del. Ch. 2006)). 1 Am. Jur. 2d Accounts & Accounting § 55.

 

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. Peers have named him an AV-Rated Lawyer, Best Lawyers, a Top 100 Super Lawyers in the Mountain States multiple years, and to the Legal Elite and Top Lawyers lists for many years. Mr. Young has been appointed a part time Judge, a Special Master to the Clark County, Nevada Business Court, as an arbitrator by the Nevada Supreme Court. He has been appointed as an arbitrator or mediator of well over 250 legal disputes from business disputes to personal injury matters. He has been named Best Lawyers for Arbitration. Mr. Young is a respected author of ten books, including A Litigator’s Guide to Federal Evidentiary Objections, A Litigator’s Guide to the Federal Rules of Evidence, and the Federal Court Civil Litigation Checklist.
Mr. Young can be reached at 702.667.4868 or at jay@h2law.com.