NRS 104A.2503
Modification or impairment of rights and remedies.

1.

Except as otherwise provided in this article, the lease agreement may include rights and remedies for default in addition to or in substitution for those provided in this article and may limit or alter the measure of damages recoverable under this article.

2.

Resort to a remedy provided under this article or in the lease agreement is optional unless the remedy is expressly agreed to be exclusive. If circumstances cause an exclusive or limited remedy to fail of its essential purpose, or provision for an exclusive remedy is unconscionable, remedy may be had as provided in this article.

3.

Consequential damages may be liquidated under NRS 104A.2504, or may otherwise be limited, altered or excluded unless the limitation, alteration or exclusion is unconscionable. Limitation, alteration or exclusion of consequential damages for injury to the person in the case of consumer goods is prima facie unconscionable but limitation, alteration or exclusion of damages where the loss is commercial is not prima facie unconscionable.

4.

Rights and remedies on default by the lessor or the lessee with respect to any obligation or promise collateral or ancillary to the lease contract are not impaired by this article.

Source: Section 104A.2503 — Modification or impairment of rights and remedies., https://www.­leg.­state.­nv.­us/NRS/NRS-104A.­html#NRS104ASec2503.

104A.010
Applicability of and references to Uniform Commercial Code. 104A.200
Law applicable to transactions entered into before January 1, 1990. 104A.2101
Short title. 104A.2102
Scope. 104A.2103
Definitions and index of definitions. 104A.2104
Leases subject to other law. 104A.2105
Territorial application of article to goods covered by certificate of title. 104A.2106
Limitation on power of parties to consumer lease to choose applicable law and judicial forum. 104A.2107
Waiver or renunciation of claim or right after default. 104A.2108
Unconscionability. 104A.2109
Option to accelerate at will. 104A.2201
Statute of frauds. 104A.2202
Final written expression: Parol or extrinsic evidence. 104A.2203
Seals inoperative. 104A.2204
Formation in general. 104A.2205
Firm offers. 104A.2206
Offer and acceptance in formation of lease contract. 104A.2208
Modification, rescission and waiver. 104A.2209
Lessee under finance lease as beneficiary of supply contract. 104A.2210
Express warranties. 104A.2211
Warranties against interference and against infringement 104A.2212
Implied warranty of merchantability. 104A.2213
Implied warranty of fitness for particular purpose. 104A.2214
Exclusion or modification of warranties. 104A.2215
Cumulation and conflict of warranties express or implied. 104A.2216
Third-party beneficiaries of express and implied warranties. 104A.2217
Identification. 104A.2218
Insurance and proceeds. 104A.2219
Risk of loss. 104A.2220
Effect of default on risk of loss. 104A.2221
Casualty to identified goods. 104A.2301
Enforceability of lease contract. 104A.2302
Title to and possession of goods. 104A.2303
Alienability of party’s interest under lease contract or of lessor’s residual interest in goods 104A.2304
Subsequent lease of goods by lessor. 104A.2305
Sale or sublease of goods by lessee. 104A.2306
Priority of certain liens arising by operation of law. 104A.2307
Priority of liens arising by attachment or levy on, security interests in and other claims to goods. 104A.2308
Special rights of creditors. 104A.2309
Lessor’s and lessee’s rights when goods become fixtures. 104A.2310
Lessor’s and lessee’s rights when goods become accessions. 104A.2311
Priority subject to subordination. 104A.2401
Insecurity: Adequate assurance of performance. 104A.2402
Anticipatory repudiation. 104A.2403
Retraction of anticipatory repudiation. 104A.2404
Substituted performance. 104A.2405
Excused performance. 104A.2406
Procedure on excused performance. 104A.2407
Irrevocable promises: Finance leases. 104A.2501
Default: Procedure. 104A.2502
Notice after default. 104A.2503
Modification or impairment of rights and remedies. 104A.2504
Liquidation of damages. 104A.2505
Cancellation and termination, and effect of cancellation, termination, rescission or fraud on rights and remedies. 104A.2506
Statute of limitations. 104A.2507
Proof of market rent: Time and place. 104A.2508
Lessee’s remedies. 104A.2509
Lessee’s rights on improper delivery 104A.2510
Installment lease contracts: Rejection and default. 104A.2511
Merchant lessee’s duties as to rightfully rejected goods. 104A.2512
Lessee’s duties as to rightfully rejected goods. 104A.2513
Cure by lessor of improper tender or delivery 104A.2514
Waiver of lessee’s objections. 104A.2515
Acceptance of goods. 104A.2516
Effect of acceptance of goods 104A.2517
Revocation of acceptance of goods. 104A.2518
Cover 104A.2519
Lessee’s damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods. 104A.2520
Lessee’s incidental and consequential damages. 104A.2521
Lessee’s right to specific performance or replevin. 104A.2522
Lessee’s right to goods on lessor’s insolvency. 104A.2523
Lessor’s remedies. 104A.2524
Lessor’s right to identify goods to lease contract. 104A.2525
Lessor’s right to possession of goods. 104A.2526
Lessor’s stoppage of delivery in transit or otherwise. 104A.2527
Lessor’s rights to dispose of goods. 104A.2528
Lessor’s damages for nonacceptance, failure to pay, repudiation or other default. 104A.2529
Lessor’s action for the rent. 104A.2530
Lessor’s incidental damages. 104A.2531
Standing to sue third parties for injury to goods. 104A.2532
Lessor’s rights to residual interest. 104A.4101
Short title. 104A.4102
Subject matter. 104A.4103
Payment order: Definitions. 104A.4104
Funds transfer: Definitions. 104A.4105
Other definitions. 104A.4106
Time payment order is received. 104A.4107
Federal Reserve regulations and operating circulars. 104A.4108
Exclusion of certain consumer transactions governed by federal law 104A.4201
Security procedure. 104A.4202
Authorized and verified payment orders. 104A.4203
Unenforceability of certain verified payment orders. 104A.4204
Refund of payment and duty of customer to report with respect to unauthorized payment order. 104A.4205
Erroneous payment orders. 104A.4206
Transmission of payment order through funds-transfer or other communication system. 104A.4207
Misdescription of beneficiary. 104A.4208
Misdescription of intermediary bank or beneficiary’s bank. 104A.4209
Acceptance of payment order. 104A.4210
Rejection of payment order. 104A.4211
Cancellation and amendment of payment order. 104A.4212
Liability and duty of receiving bank regarding unaccepted payment order. 104A.4301
Execution and execution date. 104A.4302
Obligation of receiving bank in execution of payment order. 104A.4303
Erroneous execution of payment order. 104A.4304
Duty of sender to report erroneously executed payment order. 104A.4305
Liability for late or improper execution or failure to execute payment order. 104A.4401
Payment date. 104A.4402
Obligation of sender to pay receiving bank. 104A.4403
Payment by sender to receiving bank. 104A.4404
Obligation of beneficiary’s bank to pay and give notice to beneficiary. 104A.4405
Payment by beneficiary’s bank to beneficiary. 104A.4406
Payment by originator to beneficiary 104A.4501
Variation by agreement and effect of funds-transfer system rule. 104A.4502
Creditor’s process served on receiving bank 104A.4503
Injunction or restraining order with respect to funds transfer. 104A.4504
Order in which items and payment orders may be charged to account 104A.4505
Preclusion of objection to debit of customer’s account. 104A.4506
Rate of interest. 104A.4507
Choice of law.
Last Updated

Feb. 5, 2021

§ 104A.2503’s source at nv​.us