Nevada Revised Statutes 705.050 – Validity of contract for conditional sale
No contract of the type provided for in NRS 705.030 to 705.070, inclusive, shall be valid as against any subsequent judgment creditor or any subsequent bona fide purchaser for value and without notice, unless:
Terms Used In Nevada Revised Statutes 705.050
- 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
1. The contract is evidenced by an instrument executed by the parties and duly acknowledged by the vendee, lessee or bailee, as the case may be, or duly proved before some person authorized by law to take acknowledgments of deeds, and in the same manner as deeds are acknowledged or proved;
2. The instrument is filed for record in the Office of the Secretary of State of this state; and
3. Each car or locomotive engine so sold, leased or hired, or contracted to be sold, leased or hired, has the name of the vendor, lessor or bailor plainly marked in letters not less than 1 inch in size on each side thereof, followed by the word ‘owner’ or ‘lessor’ or ‘bailor,’ as the case may be.