Nevada § 104.2501 - Insurable interest in goods; manner of identification of goods
Full text of Nevada Nevada Revised Statutes § 104.2501 — Insurable interest in goods; manner of identification of goods, with citation guidance and answers to common questions.
§ 104.2501. Insurable interest in goods; manner of identification of goods
1. The buyer obtains a special property and an insurable interest in goods by identification
of existing goods as goods to which the contract refers even though the goods so identified
are nonconforming and the buyer has an option to return or reject them. Such identification can be made at any time and in any manner explicitly agreed to
by the parties. In the absence of explicit agreement identification occurs: (a) When the contract is made if it is for the sale of goods already existing and
identified. (b) If the contract is for the sale of future goods other than those described in
paragraph (c), when goods are shipped, marked or otherwise designated by the seller
as goods to which the contract refers. (c) When the crops are planted or otherwise become growing crops or the young are
conceived if the contract is for the sale of unborn young to be born within 12 months
after contracting or for the sale of crops to be harvested within 12 months or the
next normal harvest season after contracting, whichever is longer. 2. The seller retains an insurable interest in goods so long as title to or any security
interest in the goods remains in the seller and where the identification is by the
seller alone the seller may until default or insolvency or notification to the buyer
that the identification is final substitute other goods for those identified. 3. Nothing in this section impairs any insurable interest recognized under any other
statute or rule of law.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 104.2501
What does Nevada Revised Statutes § 104.2501 cover?
Section 104.2501 ("Insurable interest in goods; manner of identification of goods") 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 § 104.2501?
A common citation format is "Nevada Revised Statutes § 104.2501" (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 § 104.2501 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.