Nevada § 104A.2401 - Insecurity: Adequate assurance of performance
Full text of Nevada Nevada Revised Statutes § 104A.2401 — Insecurity: Adequate assurance of performance, with citation guidance and answers to common questions.
§ 104A.2401. Insecurity: Adequate assurance of performance
1. A lease contract imposes an obligation on each party that the other's expectation
of receiving due performance will not be impaired. 2. If reasonable grounds for insecurity arise with respect to the performance of either
party, the insecure party may demand in writing adequate assurance of due performance.
Until the insecure party receives that assurance, if commercially reasonable the insecure
party may suspend any performance for which the insecure party has not already received
the agreed return. 3. A repudiation of the lease contract occurs if assurance of due performance adequate
under the circumstances of the particular case is not provided to the insecure party
within a reasonable time, not to exceed 30 days after receipt of a demand by the other
party. 4. Between merchants, the reasonableness of grounds for insecurity and the adequacy
of any assurance offered must be determined according to commercial standards. 5. Acceptance of any nonconforming delivery or payment does not prejudice the aggrieved
party's right to demand adequate assurance of future performance.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 104A.2401
What does Nevada Revised Statutes § 104A.2401 cover?
Section 104A.2401 ("Insecurity: Adequate assurance of performance") 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 § 104A.2401?
A common citation format is "Nevada Revised Statutes § 104A.2401" (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 § 104A.2401 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.