Murphy v. Federal Deposit Ins. Corp.

OPINION

This is an appeal from a money judgment awarded in favor of respondent Federal Deposit Insurance Corporation. For the reasons set forth below, we affirm the district court’s judgment.

FACTS

Appellant, Thomas M. Murphy, was a vice-president in a corporate venture known as Las Vegas Hotel and Casinos Investors, Ltd. (LVHC). Between January 21 and December 17, 1982, LVHC executed four demand notes in favor of the Mineral Bank of Nevada (the Bank). Note 3, in the amount of $120,000, was executed on June 2, 1982, and was signed by Murphy and four other LVHC principals without specifying their…