1.  Before taking an off-highway vehicle on consignment, an off-highway vehicle dealer or lessor shall prepare a written consignment contract.

Terms Used In Nevada Revised Statutes 490.150

  • Contract: A legal written agreement that becomes binding when signed.
  • person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039

2.  A consignment contract must include, without limitation:

(a) The names of the consignor and consignee;

(b) The date on which the consignment contract was entered into;

(c) A complete description of the off-highway vehicle subject to the consignment contract, including the unique vehicle identification number, serial number or distinguishing number obtained pursuant to NRS 490.0835, and the year, make and model of the off-highway vehicle;

(d) The term of the consignment contract;

(e) The name of each person or business entity holding any security interest in the off-highway vehicle to be consigned;

(f) The minimum sales price for the off-highway vehicle and the disposition of the proceeds therefrom, as agreed upon by the consignor and consignee; and

(g) The signatures of the consignor and consignee acknowledging all the terms and conditions set forth in the consignment contract.

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