Nevada § 104A.2510 - Installment lease contracts: Rejection and default

§ 104A.2510. Installment lease contracts: Rejection and default

1. Under an installment lease contract a lessee may reject any delivery that is nonconforming

if the nonconformity substantially impairs the value of that delivery and cannot be

cured or the nonconformity is a defect in the required documents; but if the nonconformity

does not fall within subsection 2 and the lessor or the supplier gives adequate assurance

of its cure, the lessee must accept that delivery. 2. Whenever nonconformity or default with respect to one or more deliveries substantially

impairs the value of the installment lease contract as a whole there is a default

with respect to the whole. But, the aggrieved party reinstates the installment lease contract as a whole if the

aggrieved party accepts a nonconforming delivery without seasonably notifying of cancellation

or brings an action with respect only to past deliveries or demands performance as

to future deliveries.