Title 8

NRS 104.9627 Determination of whether conduct was commercially reasonable. 1. The fact that a greater amount could have been obtained by a collection, enforcement, disposition or acceptance at a different time or in a different method from that selected by the secured party is no…

NRS 104.9628 Nonliability and limitation on liability of secured party; liability of secondary obligor. 1. Subject to subsection 6, unless a secured party knows that a person is a debtor or obligor, knows his or her identity, and knows how to communicate with him or her: (a) The …

NRS 104.9702 Applicability of amendatory provisions to preexisting transactions, liens, actions, cases and proceedings. 1. Except as otherwise provided in NRS 104.9702 to 104.9709, inclusive, this article as amended applies to a transaction or lien within its scope, even if the t…

NRS 104.9703 Security interest perfected before July 1, 2001. 1. A security interest that is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this arti…

NRS 104.9704 Security interest unperfected before July 1, 2001. A security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time: 1. Remains an enforceable security interest…

NRS 104.9705 Effectiveness of action taken before July 1, 2001. 1. If action, other than the filing of a financing statement, is taken before July 1, 2001, and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien credit…

NRS 104.9706 When initial financing statement suffices to continue effectiveness of financing statement filed before July 1, 2001. 1. The filing of an initial financing statement in the office specified in NRS 104.9501 continues the effectiveness of a financing statement filed be…

NRS 104.9707 Persons entitled to file initial financing statement or continuation statement. A person may file an initial financing statement or a continuation statement under NRS 104.9702 to 104.9709, inclusive, if: 1. The secured party of record authorizes the filing; and 2. Th…

NRS 104.9708 Determination of priority of conflicting claims to collateral. 1. NRS 104.9101 to 104.9709, inclusive, determine the priority of conflicting claims to collateral. However, if the relative priorities of the parties were fixed before July 1, 2001, the provisions of art…

NRS 104.9709 Effectiveness, amendment and termination of financing statement filed before July 1, 2001. 1. In this section, “pre-effective-date financing statement” means a financing statement filed before July 1, 2001. 2. A person may add or delete collateral covered by, continu…

NRS 104.9710 Applicability of amendatory provisions to preexisting transactions, liens, actions, cases and proceedings. 1. Except as otherwise provided in NRS 104.9710 to 104.9717, inclusive, this article as amended applies to a transaction or lien within its scope, even if the t…

NRS 104.9711 Security interest perfected before July 1, 2013. 1. A security interest that is a perfected security interest immediately before July 1, 2013, is a perfected security interest under this article if, when this article as amended takes effect, the applicable requiremen…

NRS 104.9712 Security interest unperfected before July 1, 2013. A security interest that is an unperfected security interest immediately before July 1, 2013, becomes a perfected security interest: 1. Without further action, on that date if the applicable requirements for perfecti…

NRS 104.9713 Effectiveness of action taken before July 1, 2013. 1. The filing of a financing statement before July 1, 2013, is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under this article as amended.…

NRS 104.9714 When initial financing statement suffices to continue effectiveness of financing statement filed before July 1, 2013. 1. The filing of an initial financing statement in the office specified in NRS 104.9501 continues the effectiveness of a financing statement filed be…

NRS 104.9715 Effectiveness, amendment and termination of financing statement filed before July 1, 2013. 1. In this section, “pre-effective-date financing statement” means a financing statement filed before July 1, 2013. 2. On or after July 1, 2013, a person may add or delete coll…

NRS 104.9716 Persons entitled to file initial financing statement or continuation statement. A person may file an initial financing statement or a continuation statement under this part if: 1. The secured party of record authorizes the filing; and 2. The filing is necessary under…

NRS 104.9717 Determination of priority of conflicting claims to collateral. This article as amended determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2013, this article before amendment d…

NRS 104A.010 Applicability of and references to Uniform Commercial Code. 1. The provisions of Article 1 of the Uniform Commercial Code apply to this chapter as if the provisions of this chapter were included in chapter 104 of NRS. 2. Unless limited by specific statute, a referenc…

NRS 104A.200 Law applicable to transactions entered into before January 1, 1990. Transactions validly entered into before January 1, 1990, and the rights, duties and interests flowing therefrom remain valid thereafter and may be terminated, completed, consummated or enforced as r…

NRS 104A.2101 Short title. This article shall be known and may be cited as Uniform Commercial Code—Leases. (Added to NRS by 1989, 340; A 1989, 721)

NRS 104A.2102 Scope. 1. This article applies to any transaction, regardless of form, that creates a lease and, in the case of a hybrid lease, it applies to the extent provided in subsection 2. 2. In a hybrid lease: (a) If the lease-of-goods aspects do not predominate: (1) Only th…

NRS 104A.2103 Definitions and index of definitions. 1. In this Article unless the context otherwise requires: (a) “Buyer in ordinary course of business” means a person who, in good faith and without knowledge that the sale to him or her is in violation of the ownership, rights or…

NRS 104A.2104 Leases subject to other law. 1. A lease, although subject to this Article, is also subject to any applicable: (a) Certificate of title statute of this State, including any applicable provision of chapters 482, 488, 489 and 490 of NRS; (b) Certificate of title statut…

NRS 104A.2105 Territorial application of article to goods covered by certificate of title. Subject to the provisions of subsection 3 of NRS 104A.2304 and subsection 3 of NRS 104A.2305, with respect to goods covered by a certificate of title issued under a statute of this State or…

NRS 104A.2106 Limitation on power of parties to consumer lease to choose applicable law and judicial forum. 1. If the law chosen by the parties to a consumer lease is that of a jurisdiction other than a jurisdiction in which the lessee resides at the time the lease agreement beco…

NRS 104A.2107 Waiver or renunciation of claim or right after default. Any claim or right arising out of an alleged default or breach of warranty may be discharged in whole or in part without consideration by a waiver or renunciation in a signed record delivered by the aggrieved p…

NRS 104A.2108 Unconscionability. 1. If the court as a matter of law finds a lease contract or any clause of a lease contract to have been unconscionable at the time it was made the court may refuse to enforce the lease contract, or it may enforce the remainder of the lease contra…

NRS 104A.2109 Option to accelerate at will. 1. A term providing that one party or his or her successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or “when he or she deems himself or herself insecure” or in words of s…

NRS 104A.2201 Statute of frauds. 1. A lease contract is not enforceable by way of action or defense unless: (a) The total payments to be made under the lease contract, excluding payments for options to renew or buy, are less than $1,000; or (b) There is a record, signed by the pa…

NRS 104A.2202 Final expression: Parol or extrinsic evidence. Terms with respect to which the confirmatory memoranda of the parties agree or which are otherwise set forth in a record intended by the parties as a final expression of their agreement with respect to such terms as are…

NRS 104A.2203 Seals inoperative. The affixing of a seal to a record evidencing a lease contract or an offer to enter into a lease contract does not render the record a sealed instrument and the law with respect to sealed instruments does not apply to the lease contract or offer. …

NRS 104A.2204 Formation in general. 1. A lease contract may be made in any manner sufficient to show agreement, including conduct by both parties which recognizes the existence of a lease contract. 2. An agreement sufficient to constitute a lease contract may be found although th…

NRS 104A.2205 Firm offers. An offer by a merchant to lease goods to or from another person in a signed record that by its terms gives assurance it will be held open is not revocable, for lack of consideration, during the time stated or, if no time is stated, for a reasonable time…

NRS 104A.2206 Offer and acceptance in formation of lease contract. 1. Unless otherwise unambiguously indicated by the language or circumstances, an offer to make a lease contract must be construed as inviting acceptance in any manner and by any medium reasonable in the circumstan…

NRS 104A.2208 Modification, rescission and waiver. 1. An agreement modifying a lease contract needs no consideration to be binding. 2. A signed lease agreement that excludes modification or rescission except by a signed record may not be otherwise modified or rescinded, but, exce…

NRS 104A.2209 Lessee under finance lease as beneficiary of supply contract. 1. The benefit of the supplier’s promises to the lessor under the supply contract and of all warranties, whether express or implied, including those of any third party provided in connection with or as pa…

NRS 104A.2210 Express warranties. 1. Express warranties by the lessor are created as follows: (a) Any affirmation of fact or promise made by the lessor to the lessee which relates to the goods and becomes part of the basis of the bargain creates an express warranty that the goods…

NRS 104A.2211 Warranties against interference and against infringement; lessee’s obligation against infringement. 1. There is in a lease contract a warranty that for the lease term no person holds a claim to or interest in the goods that arose from an act or omission of the lesso…

NRS 104A.2212 Implied warranty of merchantability. 1. Except in a finance lease, a warranty that the goods will be merchantable is implied in a lease contract if the lessor is a merchant with respect to goods of that kind. 2. Goods to be merchantable must be at least such as: (a)…

NRS 104A.2213 Implied warranty of fitness for particular purpose. Except in a finance lease, if the lessor at the time the lease contract is made has reason to know of any particular purpose for which the goods are required and that the lessee is relying on the lessor’s skill or …

NRS 104A.2214 Exclusion or modification of warranties. 1. Words or conduct relevant to the creation of an express warranty and words or conduct tending to negate or limit a warranty must be construed wherever reasonable as consistent with each other; but, subject to the provision…

NRS 104A.2215 Cumulation and conflict of warranties express or implied. Warranties, whether express or implied, must be construed as consistent with each other and as cumulative, but if that construction is unreasonable, the intention of the parties determines which warranty is d…

NRS 104A.2216 Third-party beneficiaries of express and implied warranties. A warranty to or for the benefit of a lessee under this article, whether express or implied, extends to any natural person who is in the family or household of the lessee or who is a guest in the lessee’s …

NRS 104A.2217 Identification. Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement, identification occurs: 1. When the lease contract is made if the le…

NRS 104A.2218 Insurance and proceeds. 1. A lessee obtains an insurable interest when existing goods are identified to the lease contract even though the goods identified are nonconforming and the lessee has an option to reject them. 2. If a lessee has an insurable interest only b…