Nevada Revised Statutes 87.020 – Definitions
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As used in NRS 87.010 to 87.430, inclusive, unless the context otherwise requires:
Terms Used In Nevada Revised Statutes 87.020
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
1. ’Bankrupt’ includes bankrupt under the Federal Bankruptcy Act or insolvent under any state insolvent act.
2. ’Conveyance’ includes every assignment, lease, mortgage or encumbrance.
3. ’Court’ includes every court and judge having jurisdiction in the case.
4. ’Real property’ includes land and any interest or estate in land.
5. ’Registered limited-liability partnership‘ means a partnership formed pursuant to an agreement governed by NRS 87.010 to 87.430, inclusive, and registered pursuant to and complying with NRS 87.440 to 87.560, inclusive.