Nebraska Statutes 81-162. Purchases or leases; form of contract
Current as of: 2023 | Check for updates
|
Other versions
Contracts for purchases or leases may be made in any of the following forms:
Terms Used In Nebraska Statutes 81-162
- Contract: A legal written agreement that becomes binding when signed.
- Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
- Personal property: All property that is not real property.
(1) For the furnishing of specific personal property at specific prices;
(2) For the furnishing of personal property, according to the specifications, at a fixed rate for a minimum quantity, subject to furnishing a greater quantity at the same or a lesser rate; or
(3) For the furnishing of personal property, according to the specifications without a stated minimum at a rate stated, commonly known as a price agreement.
The form of the contract to be used in any case shall be subject to the discretion of the materiel division.
Source
- Laws 1943, c. 215, § 18, p. 709;
- R.S.1943, § 81-162;
- Laws 1975, LB 359, § 11;
- Laws 1992, LB 1241, § 20.