Nevis v. Fidelity New York, F.A.

OPINION

Appellants Thomas and Samuel Nevis are brothers who each owns 50 percent of the stock in Doe Valley, Inc. Doe Valley, Inc. entered a joint venture, Country River, Ltd., to develop real property in Elko, Nevada. Country River, Ltd. obtained loans, and Thomas Nevis signed as guarantor of the loans for himself and as attorney-in-fact for Samuel, Saundra, and Melinda Nevis. Appellants Saundra.and Melinda Nevis are the wives of Thomas and Samuel, respectively. Respondent Fidelity New York unknowingly disbursed loan proceeds for work that was incomplete and for improvements that were not…