A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
(Added to NRS by 1965, 826; A 1993, 1276)
Structure Nevada Revised Statutes
Chapter 104 - Uniform Commercial Code — Original Articles
NRS 104.1102 - Scope of Article 1.
NRS 104.1104 - Construction against implied repeal.
NRS 104.1106 - Use of singular and plural; gender.
NRS 104.1108 - Relation to Electronic Signatures in Global and National Commerce Act.
NRS 104.1201 - General definitions.
NRS 104.1202 - Notice; knowledge.
NRS 104.1203 - Lease distinguished from security interest.
NRS 104.1205 - Reasonable time; seasonableness.
NRS 104.1301 - Territorial applicability; parties’ power to choose applicable law.
NRS 104.1302 - Variation by agreement.
NRS 104.1303 - Course of performance, course of dealing and usage of trade.
NRS 104.1304 - Obligation of good faith.
NRS 104.1305 - Remedies to be liberally administered.
NRS 104.1306 - Waiver or renunciation of claim or right after breach.
NRS 104.1307 - Prima facie evidence by third-party documents.
NRS 104.1308 - Performance or acceptance under reservation of rights.
NRS 104.1309 - Option to accelerate at will.
NRS 104.1310 - Subordinated obligations.
NRS 104.2102 - Scope; certain security and other transactions excluded from this article.
NRS 104.2103 - Definitions and index of definitions.
NRS 104.2104 - Definitions: "Merchant"; "between merchants"; "financing agency."
NRS 104.2105 - Definitions: Transferability; "goods"; "future" goods; "lot"; "commercial unit."
NRS 104.2107 - Goods to be severed from realty: Recording.
NRS 104.2201 - Formal requirements; statute of frauds.
NRS 104.2202 - Final written expression: Parol or extrinsic evidence.
NRS 104.2203 - Seals inoperative.
NRS 104.2204 - Formation in general.
NRS 104.2206 - Offer and acceptance in formation of contract.
NRS 104.2207 - Additional terms in acceptance or confirmation.
NRS 104.2209 - Modification, rescission and waiver.
NRS 104.2210 - Delegation of performance; assignment of rights.
NRS 104.2301 - General obligations of parties.
NRS 104.2302 - Unconscionable contract or clause.
NRS 104.2303 - Allocation or division of risks.
NRS 104.2304 - Price payable in money, goods, realty or otherwise.
NRS 104.2305 - Open price term.
NRS 104.2306 - Output, requirements and exclusive dealings.
NRS 104.2307 - Delivery in single lot or several lots.
NRS 104.2308 - Absence of specified place for delivery.
NRS 104.2309 - Absence of specific time for action or duration of contract; notice of termination.
NRS 104.2310 - Open time for payment or running of credit; authority to ship under reservation.
NRS 104.2311 - Options and cooperation respecting performance.
NRS 104.2312 - Warranty of title and against infringement; buyer’s obligation against infringement.
NRS 104.2313 - Express warranties by affirmation, promise, description or sample.
NRS 104.2314 - Implied warranty: Merchantability; usage of trade.
NRS 104.2315 - Implied warranty: Fitness for particular purpose.
NRS 104.2316 - Exclusion or modification of warranties.
NRS 104.2317 - Cumulation and conflict of warranties express or implied.
NRS 104.2318 - Third-party beneficiaries of warranties express or implied.
NRS 104.2319 - F.O.B. and F.A.S. terms.
NRS 104.2320 - C.I.F. and C. & F. terms.
NRS 104.2322 - Delivery "ex-ship."
NRS 104.2323 - Form of bill of lading required in overseas shipment; "overseas."
NRS 104.2324 - "No arrival, no sale" term.
NRS 104.2325 - "Letter of credit" term; "confirmed credit."
NRS 104.2326 - Sale on approval and sale or return; rights of creditors.
NRS 104.2327 - Special incidents of sale on approval and sale or return.
NRS 104.2328 - Sale by auction.
NRS 104.2401 - Passing of title; reservation for security; limited application of this section.
NRS 104.2402 - Rights of seller’s creditors against sold goods.
NRS 104.2403 - Power to transfer; good faith purchase of goods; "entrusting."
NRS 104.2501 - Insurable interest in goods; manner of identification of goods.
NRS 104.2502 - Buyer’s right to goods on seller’s repudiation, failure to deliver or insolvency.
NRS 104.2503 - Manner of seller’s tender of delivery.
NRS 104.2504 - Shipment by seller.
NRS 104.2505 - Seller’s shipment under reservation.
NRS 104.2506 - Rights of financing agency.
NRS 104.2507 - Effect of seller’s tender; delivery on condition.
NRS 104.2508 - Cure by seller of improper tender or delivery; replacement.
NRS 104.2509 - Risk of loss in the absence of breach.
NRS 104.2510 - Effect of breach on risk of loss.
NRS 104.2511 - Tender of payment by buyer; payment by check.
NRS 104.2512 - Payment by buyer before inspection.
NRS 104.2513 - Buyer’s right to inspection of goods.
NRS 104.2514 - When documents deliverable on acceptance; when on payment.
NRS 104.2515 - Preserving evidence of goods in dispute.
NRS 104.2601 - Buyer’s rights on improper delivery.
NRS 104.2602 - Manner and effect of rightful rejection.
NRS 104.2603 - Merchant buyer’s duties as to rightfully rejected goods.
NRS 104.2604 - Buyer’s options as to salvage of rightfully rejected goods.
NRS 104.2605 - Waiver of buyer’s objections by failure to particularize.
NRS 104.2606 - What constitutes acceptance of goods.
NRS 104.2608 - Revocation of acceptance in whole or in part.
NRS 104.2609 - Right to adequate assurance of performance.
NRS 104.2610 - Anticipatory repudiation.
NRS 104.2611 - Retraction of anticipatory repudiation.
NRS 104.2612 - "Installment contract"; breach.
NRS 104.2613 - Casualty to identified goods.
NRS 104.2614 - Substituted performance.
NRS 104.2615 - Excuse by failure of presupposed conditions.
NRS 104.2616 - Procedure on notice claiming excuse.
NRS 104.2701 - Remedies for breach of collateral contracts not impaired.
NRS 104.2702 - Seller’s remedies on discovery of buyer’s insolvency.
NRS 104.2703 - Seller’s remedies in general.
NRS 104.2705 - Seller’s stoppage of delivery in transit or otherwise.
NRS 104.2706 - Seller’s resale including contract for resale.
NRS 104.2707 - "Person in the position of a seller."
NRS 104.2708 - Seller’s damages for nonacceptance or repudiation.
NRS 104.2709 - Action for price.
NRS 104.2710 - Seller’s incidental damages.
NRS 104.2711 - Buyer’s remedies in general; buyer’s security interest in rejected goods.
NRS 104.2712 - "Cover"; buyer’s procurement of substitute goods.
NRS 104.2713 - Buyer’s damages for nondelivery or repudiation.
NRS 104.2714 - Buyer’s damages for breach in regard to accepted goods.
NRS 104.2715 - Buyer’s incidental and consequential damages.
NRS 104.2716 - Buyer’s right to specific performance or replevin.
NRS 104.2717 - Deduction of damages from the price.
NRS 104.2718 - Liquidation or limitation of damages; deposits.
NRS 104.2719 - Contractual modification or limitation of remedy.
NRS 104.2720 - Effect of "cancellation" or "rescission" on claims for antecedent breach.
NRS 104.2721 - Remedies for fraud.
NRS 104.2722 - Who can sue third parties for injury to goods.
NRS 104.2723 - Proof of market price: Time and place.
NRS 104.2724 - Admissibility of market quotations.
NRS 104.2725 - Statute of limitations in contracts for sale.
NRS 104.3102 - Subject matter.
NRS 104.3104 - Negotiable instrument.
NRS 104.3105 - Issue of instrument.
NRS 104.3106 - Unconditional promise or order.
NRS 104.3107 - Instrument payable in foreign money.
NRS 104.3108 - Payable on demand or at definite time.
NRS 104.3109 - Payable to bearer or to order.
NRS 104.3110 - Identification of person to whom instrument is payable.
NRS 104.3111 - Place of payment.
NRS 104.3113 - Date of instrument.
NRS 104.3114 - Contradictory terms of instrument.
NRS 104.3115 - Incomplete instruments.
NRS 104.3116 - Joint and several liability; contribution.
NRS 104.3117 - Other agreements affecting instrument.
NRS 104.3118 - Statute of limitations.
NRS 104.3119 - Notice of right to defend action.
NRS 104.3202 - Negotiation subject to rescission.
NRS 104.3203 - Transfer of instrument; rights acquired by transfer.
NRS 104.3205 - Special endorsement; blank endorsement; anomalous endorsement.
NRS 104.3206 - Restrictive endorsement.
NRS 104.3301 - Person entitled to enforce instrument.
NRS 104.3302 - Holder in due course.
NRS 104.3303 - Value and consideration.
NRS 104.3304 - Overdue instrument.
NRS 104.3305 - Defenses and claims in recoupment.
NRS 104.3306 - Claims to an instrument.
NRS 104.3307 - Notice of breach of fiduciary duty.
NRS 104.3308 - Proof of signatures and status as holder in due course.
NRS 104.3309 - Enforcement of lost, destroyed or stolen instrument.
NRS 104.3310 - Effect of instrument on obligation for which taken.
NRS 104.3311 - Accord and satisfaction by use of instrument.
NRS 104.3312 - Lost, destroyed or stolen cashier’s check, teller’s check or certified check.
NRS 104.3402 - Signature by representative.
NRS 104.3403 - Unauthorized signature.
NRS 104.3404 - Impostors; fictitious payees.
NRS 104.3405 - Employer’s responsibility for fraudulent endorsement by employee.
NRS 104.3406 - Negligence contributing to forged signature or alteration of instrument.
NRS 104.3408 - Drawee not liable on unaccepted draft.
NRS 104.3409 - Acceptance of draft; certified check.
NRS 104.3410 - Acceptance varying draft.
NRS 104.3411 - Refusal to pay cashier’s checks, teller’s checks and certified checks.
NRS 104.3412 - Obligation of issuer of note or cashier’s check.
NRS 104.3413 - Obligation of acceptor.
NRS 104.3414 - Obligation of drawer.
NRS 104.3415 - Obligation of endorser.
NRS 104.3416 - Transfer warranties.
NRS 104.3417 - Presentment warranties.
NRS 104.3418 - Payment or acceptance by mistake.
NRS 104.3419 - Instruments signed for accommodation.
NRS 104.3420 - Conversion of instrument.
NRS 104.3503 - Notice of dishonor.
NRS 104.3504 - Excused presentment and notice of dishonor.
NRS 104.3505 - Evidence of dishonor.
NRS 104.3601 - Discharge and effect of discharge.
NRS 104.3603 - Tender of payment.
NRS 104.3604 - Discharge by cancellation or renunciation.
NRS 104.3605 - Discharge of endorsers and accommodation parties.
NRS 104.4103 - Variation by agreement; measure of damages; action constituting ordinary care.
NRS 104.4104 - Definitions and index of definitions.
NRS 104.4106 - Payable through or payable at bank.
NRS 104.4107 - Separate office of bank.
NRS 104.4108 - Time of receipt of items.
NRS 104.4110 - Electronic presentment.
NRS 104.4111 - Statute of limitations.
NRS 104.4202 - Responsibility for collection or return; when action timely.
NRS 104.4203 - Effect of instructions.
NRS 104.4204 - Methods of sending and presenting; sending directly to payor bank.
NRS 104.4205 - Depository bank holder of unendorsed item.
NRS 104.4206 - Transfer between banks.
NRS 104.4207 - Transfer warranties.
NRS 104.4208 - Presentment warranties.
NRS 104.4209 - Encoding and retention warranties.
NRS 104.4210 - Security interest of collecting bank in items, accompanying documents and proceeds.
NRS 104.4211 - When bank gives value for purposes of holder in due course.
NRS 104.4213 - Medium and time of settlement by bank.
NRS 104.4214 - Right of charge-back or refund; liability of collecting bank; return of item.
NRS 104.4216 - Insolvency and preference.
NRS 104.4302 - Payor bank’s responsibility for late return of item.
NRS 104.4401 - When bank may charge customer’s account.
NRS 104.4403 - Customer’s right to stop payment; burden of proof of loss.
NRS 104.4404 - Bank not obligated to pay check more than 6 months old.
NRS 104.4405 - Death or incompetence of customer.
NRS 104.4406 - Customer’s duty to discover or report unauthorized signature or alteration.
NRS 104.4407 - Payor bank’s right to subrogation on improper payment.
NRS 104.4502 - Presentment of "on arrival" drafts.
NRS 104.4504 - Privilege of presenting bank to deal with goods; security interest for expenses.
NRS 104.5104 - Formal requirements.
NRS 104.5106 - Issuance, amendment, cancellation and duration.
NRS 104.5107 - Confirmer, nominated person and adviser.
NRS 104.5108 - Issuer’s rights and obligations.
NRS 104.5109 - Fraud and forgery.
NRS 104.5112 - Transfer of letter of credit.
NRS 104.5113 - Transfer by operation of law.
NRS 104.5114 - Assignment of proceeds.
NRS 104.5115 - Statute of limitations.
NRS 104.5116 - Choice of law and forum.
NRS 104.5117 - Subrogation of issuer, applicant and nominated person.
NRS 104.5118 - Security interest of issuer or nominated person.
NRS 104.7102 - Definitions and index of definitions.
NRS 104.7103 - Relation of Article to treaty or statute.
NRS 104.7104 - Negotiable and nonnegotiable document of title.
NRS 104.7105 - Reissuance in alternative medium.
NRS 104.7106 - Control of electronic document of title.
NRS 104.7201 - Person that may issue warehouse receipt; storage under bond.
NRS 104.7202 - Form of warehouse receipt; effect of omission.
NRS 104.7203 - Liability for nonreceipt or misdescription.
NRS 104.7204 - Duty of care; contractual limitation of warehouse’s liability.
NRS 104.7205 - Title under warehouse receipt defeated in certain cases.
NRS 104.7206 - Termination of storage at warehouse’s option.
NRS 104.7207 - Goods must be kept separate; fungible goods.
NRS 104.7208 - Altered warehouse receipts.
NRS 104.7209 - Lien of warehouse.
NRS 104.7210 - Enforcement of warehouse’s lien.
NRS 104.7302 - Through bills of lading and similar documents of title.
NRS 104.7303 - Diversion; reconsignment; change of instructions.
NRS 104.7304 - Tangible bills of lading in set.
NRS 104.7305 - Destination bills.
NRS 104.7306 - Altered bills of lading.
NRS 104.7307 - Lien of carrier.
NRS 104.7308 - Enforcement of carrier’s lien.
NRS 104.7309 - Duty of care; contractual limitation of carrier’s liability.
NRS 104.7401 - Irregularities in issue of receipt or bill or conduct of issuer.
NRS 104.7402 - Duplicate document of title; overissue.
NRS 104.7403 - Obligation of bailee to deliver; excuse.
NRS 104.7404 - No liability for good-faith delivery pursuant to document of title.
NRS 104.7501 - Form of negotiation and requirements of due negotiation.
NRS 104.7502 - Rights acquired by due negotiation.
NRS 104.7503 - Document of title to goods defeated in certain cases.
NRS 104.7505 - Endorser not guarantor for other parties.
NRS 104.7506 - Delivery without endorsement; right to compel endorsement.
NRS 104.7507 - Warranties on negotiation or delivery of document of title.
NRS 104.7508 - Warranties of collecting bank as to documents of title.
NRS 104.7509 - Adequate compliance with commercial contract.
NRS 104.7601 - Lost, stolen or destroyed documents of title.
NRS 104.7602 - Judicial process against goods covered by negotiable document of title.
NRS 104.7603 - Conflicting claims; interpleader.
NRS 104.8104 - Acquisition of security or financial asset or interest therein.
NRS 104.8105 - Notice of adverse claim.
NRS 104.8107 - Whether endorsement, instruction or entitlement order is effective.
NRS 104.8108 - Warranties in direct holding.
NRS 104.8109 - Warranties in indirect holding.
NRS 104.8110 - Applicability; choice of law.
NRS 104.8111 - Rules of clearing corporation.
NRS 104.8112 - Creditor’s legal process.
NRS 104.8113 - Statute of frauds inapplicable.
NRS 104.8114 - Evidentiary rules concerning certificated securities.
NRS 104.8115 - Securities intermediary and others not liable to adverse claimant.
NRS 104.8116 - Securities intermediary as purchaser for value.
NRS 104.8202 - Issuer’s responsibility and defenses; notice of defect or defense.
NRS 104.8203 - Staleness as notice of defect or defense.
NRS 104.8204 - Effect of issuer’s restriction on transfer.
NRS 104.8205 - Effect of unauthorized signature on security certificate.
NRS 104.8206 - Completion or alteration of security certificate.
NRS 104.8207 - Rights and duties of issuer with respect to registered owners.
NRS 104.8208 - Effect of signature of authenticating trustee, registrar or transfer agent.
NRS 104.8302 - Rights of purchaser.
NRS 104.8303 - Protected purchaser.
NRS 104.8306 - Effect of guaranteeing signature, endorsement or instruction.
NRS 104.8307 - Purchaser’s right to requisites for registration of transfer.
NRS 104.8401 - Duty of issuer to register transfer.
NRS 104.8402 - Assurance that endorsement or instruction is effective.
NRS 104.8403 - Demand that issuer not register transfer.
NRS 104.8404 - Wrongful registration.
NRS 104.8405 - Replacement of lost, destroyed or wrongfully taken security certificate.
NRS 104.8407 - Authenticating trustee, transfer agent and registrar.
NRS 104.8501 - Securities account; acquisition of security entitlement from securities intermediary.
NRS 104.8502 - Assertion of adverse claim against entitlement holder.
NRS 104.8504 - Duty of securities intermediary to maintain financial asset.
NRS 104.8505 - Duty of securities intermediary with respect to payments and distributions.
NRS 104.8506 - Duty of securities intermediary to exercise rights as directed by entitlement holder.
NRS 104.8507 - Duty of securities intermediary to comply with entitlement order.
NRS 104.8510 - Rights of purchaser of security entitlement from entitlement holder.
NRS 104.8511 - Priority among security interests and entitlement holders.
NRS 104.9102 - Definitions and index of definitions.
NRS 104.9104 - Control of deposit account.
NRS 104.9106 - Control of investment property.
NRS 104.9107 - Control of letter-of-credit right.
NRS 104.9108 - Sufficiency of descriptions.
NRS 104.9109 - Scope of applicability.
NRS 104.9110 - Applicability to security interests arising under Article 2 or 2A.
NRS 104.9201 - General effectiveness of security agreement.
NRS 104.9202 - Title to collateral immaterial.
NRS 104.9204 - After-acquired property; future advances.
NRS 104.9205 - Use or disposition of collateral permissible.
NRS 104.9206 - Security interest arising in purchase or delivery of financial asset.
NRS 104.9207 - Rights and duties of secured party having possession or control of collateral.
NRS 104.9208 - Additional duties of secured party having control of collateral.
NRS 104.9209 - Duties of secured party if account debtor has been notified of assignment.
NRS 104.9210 - Request for accounting; request regarding list of collateral or statement of account.
NRS 104.9301 - Determination of law governing perfection and priority of security interests.
NRS 104.9302 - Determination of law governing perfection and priority of agricultural liens.
NRS 104.9307 - Location of debtor.
NRS 104.9308 - When security interest or agricultural lien is perfected; continuity of perfection.
NRS 104.9309 - Security interest perfected upon attachment.
NRS 104.9314 - Perfection by control.
NRS 104.9315 - Secured party’s rights on disposition of collateral and in proceeds.
NRS 104.9316 - Continued perfection of security interest following change in governing law.
NRS 104.9319 - Rights and title of consignee with respect to creditors and purchasers.
NRS 104.9320 - Protection of certain buyers of goods.
NRS 104.9323 - Future advances.
NRS 104.9324 - Priority of purchase-money security interests.
NRS 104.9325 - Priority of security interests in transferred collateral.
NRS 104.9326 - Priority of security interests created by new debtor.
NRS 104.9327 - Priority among conflicting security interests in same deposit account.
NRS 104.9328 - Priority among conflicting security interests in same investment property.
NRS 104.9329 - Priority among conflicting security interests in same letter-of-credit right.
NRS 104.9330 - Priority of purchaser of chattel paper or instrument.
NRS 104.9332 - Effect of transfer of money; effect of transfer of funds from deposit account.
NRS 104.9333 - Priority of certain possessory liens arising by operation of law.
NRS 104.9334 - Priority of security interests in fixtures and crops.
NRS 104.9336 - Commingled goods.
NRS 104.9337 - Priority of security interests in goods covered by certificate of title.
NRS 104.9339 - Priority subject to subordination by agreement.
NRS 104.9340 - Effectiveness of right of recoupment or setoff against deposit account.
NRS 104.9341 - Bank’s rights and duties with respect to deposit account.
NRS 104.9342 - Bank’s right to refuse to enter into or disclose existence of control agreement.
NRS 104.9401 - Alienability of debtor’s rights.
NRS 104.9402 - Secured party not obligated in contract of debtor or in tort.
NRS 104.9403 - Agreement not to assert defenses against assignee.
NRS 104.9404 - Rights acquired by assignee; claims and defenses against assignee.
NRS 104.9405 - Modification of or substitution for assigned contract.
NRS 104.9409 - Restrictions on assignment of letter-of-credit rights ineffective.
NRS 104.9503 - Name of debtor and secured party provided in financing statement.
NRS 104.9504 - Indication of collateral in financing statement.
NRS 104.9506 - Effect of errors or omissions in financing statement.
NRS 104.9507 - Effect of certain events on effectiveness of financing statement.
NRS 104.9509 - Persons entitled to file record.
NRS 104.9510 - Effectiveness of filed record.
NRS 104.9511 - Secured party of record.
NRS 104.9512 - Amendment of financing statement.
NRS 104.9513 - Termination statement.
NRS 104.9514 - Assignment of certain powers of secured party of record.
NRS 104.9516 - What constitutes filing; effectiveness of filing.
NRS 104.9517 - Effect of indexing errors.
NRS 104.9520 - Acceptance and refusal to accept record.
NRS 104.9522 - Maintenance and destruction of records.
NRS 104.9523 - Information from filing office; sale or license of records.
NRS 104.9524 - Excused delay by filing office.
NRS 104.9526 - Filing-office rules.
NRS 104.9527 - Duty of Secretary of State to report.
NRS 104.9602 - Waiver and variance of rights and duties of debtor and obligor.
NRS 104.9603 - Agreement on standards concerning rights and duties of parties.
NRS 104.9604 - Procedure if security agreement covers real property or fixtures.
NRS 104.9605 - Duty to unknown debtor or secondary obligor.
NRS 104.9606 - Time of default for agricultural lien.
NRS 104.9607 - Collection and enforcement by secured party.
NRS 104.9609 - Secured party’s right to take possession or dispose of collateral after default.
NRS 104.9610 - Disposition of collateral after default.
NRS 104.9611 - Notification before disposition of collateral.
NRS 104.9612 - Timeliness of notification before disposition of collateral.
NRS 104.9613 - Contents and form of notification before disposition of collateral: General.
NRS 104.9616 - Explanation of calculation of surplus or deficiency.
NRS 104.9618 - Rights and duties of certain secondary obligors.
NRS 104.9619 - Transfer of record or legal title.
NRS 104.9621 - Notification of proposal to accept collateral in satisfaction of obligation.
NRS 104.9622 - Effect of acceptance of collateral in satisfaction of obligation.
NRS 104.9623 - Redemption of collateral.
NRS 104.9625 - Remedies for secured party’s failure to comply with article.
NRS 104.9626 - Action in which deficiency or surplus is in issue.
NRS 104.9627 - Determination of whether conduct was commercially reasonable.
NRS 104.9703 - Security interest perfected before July 1, 2001.
NRS 104.9704 - Security interest unperfected before July 1, 2001.
NRS 104.9705 - Effectiveness of action taken before July 1, 2001.
NRS 104.9707 - Persons entitled to file initial financing statement or continuation statement.
NRS 104.9708 - Determination of priority of conflicting claims to collateral.
NRS 104.9711 - Security interest perfected before July 1, 2013.
NRS 104.9712 - Security interest unperfected before July 1, 2013.
NRS 104.9713 - Effectiveness of action taken before July 1, 2013.
NRS 104.9716 - Persons entitled to file initial financing statement or continuation statement.
NRS 104.9717 - Determination of priority of conflicting claims to collateral.