Lost Profits Remedy

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In Nevada, to be eligible for the remedy of lost profits, one must prove:

  1. Evidence of lost profits must not be speculative; and
  2. Evidence must show with reasonable certainty both the occurrence and extent of lost profits.

Dobbs Law of Remedies at § 12.62(2); El Ranco, Inc. v. First Nat’l Bank, 406 F.2d 1205 (9th Cir. 1968) (The existence and extent of lost profits is one of evidentiary weight instead of admissibility); Bader v. Cerri, 96 Nev. 352, 609 P.2d 314 (1980); Eaton v, J. H., Inc., 94 Nev. 446, 450, 581 P.2d 14, 17 (1978).  Houston Exploration Inc. v. Meredith, 728 P.2d 437 (1986) (expert testimony regarding the lost profits of a new venture must be allowed to go to the jury, which will determine the weight to be assigned such testimony); Hughes v. Hobson, 92 Nev. 683, 558 P.2d 543 (1976) (damages based on the prospective profits of a new business venture are too uncertain and speculative to form a basis for recovery).

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.