NRS 104A.4201 – Security procedure.
1. “Security procedure” means a procedure established by agreement of a customer and a receiving bank to: (a) Verify that a payment order or communication amending or cancelling a payment order is that of the customer; or (b) Detect error in the transmission or the content of the payment order or communication. 2. A security […]
NRS 104A.4202 – Authorized and verified payment orders.
1. A payment order received by the receiving bank is the authorized order of the person identified as sender if the person authorized the order or is otherwise bound by it under the law of agency. 2. If a bank and its customer have agreed that the authenticity of payment orders issued to the bank […]
NRS 104A.2219 – Risk of loss.
1. Except in the case of a finance lease, risk of loss is retained by the lessor and does not pass to the lessee. In the case of a finance lease, risk of loss passes to the lessee. 2. Subject to the provisions of this Article on the effect of default on risk of loss […]
NRS 104A.2220 – Effect of default on risk of loss.
1. Where risk of loss is to pass to the lessee and the time of passage is not stated: (a) If a tender or delivery of goods so fails to conform to the lease contract as to give a right of rejection, the risk of their loss remains with the lessor, or, in the case […]
NRS 104A.2221 – Casualty to identified goods.
If a lease contract requires goods identified when the lease contract is made, and the goods suffer casualty without fault of the lessee, the lessor or the supplier before delivery, or the goods suffer casualty before risk of loss passes to the lessee pursuant to the lease agreement or NRS 104A.2219, then: 1. If the […]
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) Pass without objection in the trade under the description in […]
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 judgment to select or furnish suitable goods, there is in the lease contract an […]
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 provisions of NRS 104A.2202 on parol or extrinsic evidence, negation or limitation is inoperative to the extent that […]
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 dominant. In ascertaining that intention the following rules apply: 1. Exact or technical specifications displace an inconsistent sample or model or general language of […]
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 home if it is reasonable to expect that such person may use, consume or be […]