Nevada § 100.145 - Obtaining bids to establish residual value of vehicle when value or method of establishing value not agreed upon
Full text of Nevada Nevada Revised Statutes § 100.145 — Obtaining bids to establish residual value of vehicle when value or method of establishing value not agreed upon, with citation guidance and answers to common questions.
§ 100.145. Obtaining bids to establish residual value of vehicle when value or method of establishing value not agreed upon
1. Where the lessee's liability on the date any open-end consumer vehicle lease or
commercial vehicle lease terminates or expires is based on the residual value of the
vehicle at that time and the lessor and lessee do not agree in writing on that value
or on another method of establishing it, the lessor may, subject to the provisions
of NRS 100.165 , for the purpose of establishing residual value and thereby providing the basis for
determining the lessee's liability, obtain written bids from third persons. 2. The lessor shall act in good faith and in a commercially reasonable manner in obtaining
bids for the vehicle. The fact that a better price could have been obtained at a different time or in
a different method from that selected by the lessor is not of itself sufficient to
establish that the lessor did not act in a commercially reasonable manner. If the lessor obtains bids at the price current in any recognized market for such
a vehicle at the time of the bidding, the lessor has acted in a commercially reasonable
manner. 3. The highest effective bid obtained pursuant to this section or NRS 100.165 , where applicable, or the actual sale price, whichever is higher, establishes the
residual value of the vehicle.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 100.145
What does Nevada Revised Statutes § 100.145 cover?
Section 100.145 ("Obtaining bids to establish residual value of vehicle when value or method of establishing value not agreed upon") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 100.145?
A common citation format is "Nevada Revised Statutes § 100.145" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 100.145 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.