Subject to the provisions of NRS 101.040, the obligee’s release or discharge of one or more of several obligors, or of one or more of joint, or of joint and several obligors, shall not discharge coobligors, against whom the obligee in writing and as part of the same transaction as the release or discharge expressly reserves his or her rights; and in the absence of such a reservation of rights shall discharge coobligors only to the extent provided in NRS 101.060.
NRS 101.050
Release with reservation of rights
Known as the Uniform Joint Obligations Act
The act spans §§ 101–101 (9 sections).
Applied in 1 court decision — leading case Whittlesea v. Farmer (1970)
Most recently applied in Whittlesea v. Farmer (May 1970)
[4:35:1927; NCL § 3703]
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.