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Can you summarize NVRS 104.9405?
Uniform Commercial CodeOriginal Articles > Modification of or substitution for assigned contract.
Short Summary
This legal document, governed by the Nevada Revised Statutes, specifically addresses the modification of or substitution for assigned contracts. It states that a modification or substitution made in good faith is effective against an assignee, who acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of contract by the assignor. However, this provision is subject to certain conditions, such as the right to payment not being fully earned or the account debtor not receiving notification of the assignment. It is important to note that this section does not apply to the assignment of a health-care-insurance receivable. No specific penalties are mentioned in this document.
Whom does it apply to?
Assignees and account debtors
What does it govern?
Modification of or substitution for assigned contracts
What are exemptions?
Assignment of health-care-insurance receivables
What are the Penalties?
No penalties mentioned.
Jurisdiction
Nevada