Special offer

When Does the 6-Year Period Begin on a Breach of Contract on a Promissory Note in Nevada?

By
Real Estate Agent with Realty ONE Group

NRS 11.200  Computation of time.  The time in NRS 11.190 shall be deemed to date from the last transaction or the last item charged or last credit given; and whenever any payment on principal or interest has been or shall be made upon an existing contract, whether it be a bill of exchange, promissory note or other evidence of indebtedness if such payment be made after the same shall have become due, the limitation shall commence from the time the last payment was made.  [1911 CPA § 26; RL § 4968; NCL § 8525] Remember:  This is for informational purposes only.  Do not offer legal advice.  Consult with a competent attorney.  Steven Kitnick www.NevadaCE.com