BRAD ASSOCS. v. NEVADA FED. FINANCIAL CORP.

No. 23089.

848 P.2d 1064 (1993)

BRAD ASSOCIATES, a Nevada General Partnership Composed of Andrew S. Fonfa, Daniel L. Packer and Ronald R. Sinclair; Andrew S. Fonfa, Individually; Daniel L. Packer, Individually; Ronald R. Sinclair, Individually, Appellants, v. NEVADA FEDERAL FINANCIAL CORPORATION, a Wholly Owned Subsidiary of Nevada Federal Credit Union, Respondent.

Supreme Court of Nevada.

March 18, 1993.


Attorney(s) appearing for the Case

Deaner, Deaner & Scann and John Curtas, Las Vegas, for appellant.

Chris A. Beecroft, Las Vegas, for respondent.


OPINION

PER CURIAM:

FACTS

In 1985 Andrew Fonfa, Daniel Packer, Ronald Sinclair and William Zuraff1 (collectively referred to as the "partners") formed Brad Associates, a Nevada general partnership. The declared purpose of Brad Associates was "the business of constructing an apartment building...."

To that end, the partners borrowed $750,000 from the Nevada Federal Financial Corporation (the "Credit Union...

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