NRS357.024. “Obligation” defined.

Latest version.

“Obligation” means any established duty, regardless of whether the duty is a fixed duty, arising from:

      1. An express or implied contractual relationship;

      2. A relationship between a grantor and a grantee;

      3. A relationship between a licensor and a licensee;

      4. A fee-based or similar relationship;

      5. A statute or regulation; or

      6. The retention of any overpayment.

(Added to NRS by 2013, 1043)

                    
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