Nevada Revised Statutes 97.304 – Enforceability of default on part of buyer
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Notwithstanding the provisions of any contract to the contrary, default on the part of the buyer is only enforceable to the extent that:
Terms Used In Nevada Revised Statutes 97.304
- Contract: A legal written agreement that becomes binding when signed.
1. The buyer fails to make a payment as required by the agreement; or
2. The prospect of payment, performance or realization of collateral is significantly impaired. The burden of establishing the prospect of significant impairment is on the seller.