Nevada § 97.105 - “Retail installment contract” and “contract” defined
Full text of Nevada Nevada Revised Statutes § 97.105 — “Retail installment contract” and “contract” defined, with citation guidance and answers to common questions.
§ 97.105. “Retail installment contract” and “contract” defined
1. “Retail installment contract” or “contract” means a contract, other than a retail
charge agreement or an instrument reflecting a sale made pursuant thereto, entered
into or performed in this state for a retail installment transaction. 2. The term includes a security agreement and a bailment contract or lease if the
bailee or lessee contracts to pay as compensation for their use a sum substantially
equivalent to or in excess of the value of the goods and if it is agreed that the
bailee or lessee is bound to become or, without giving further substantial value,
has the option of becoming the owner of the goods upon full compliance with the provisions
of the bailment or lease. 3. The term does not include a bailment or lease of a vehicle where the lessee becomes
or may become the owner of the vehicle by payment to the lessor of an amount which
is substantially equal to the residual value or the unamortized capitalized cost,
if the payment is not nominal.
Frequently Asked Questions About Nevada § 97.105
What does Nevada Revised Statutes § 97.105 cover?
Section 97.105 ("“Retail installment contract” and “contract” defined") 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 § 97.105?
A common citation format is "Nevada Revised Statutes § 97.105" (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 § 97.105 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.