Notwithstanding the provisions of any contract to the contrary, default on the part of the buyer is only enforceable to the extent that:

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Terms Used In Nevada Revised Statutes 97.304

  • Contract: A legal written agreement that becomes binding when signed.

1.  The buyer fails to make a payment as required by the agreement; or

2.  The prospect of payment, performance or realization of collateral is significantly impaired. The burden of establishing the prospect of significant impairment is on the seller.