Nebraska Revised Statute 45-1,112

Chapter 45


Terms, defined.

For purposes of sections 45-1,112 to 45-1,115:

(1)(a) Credit agreement means:

(i) A contract, promise, undertaking, offer, or commitment to loan money or to grant or extend credit; or

(ii) A contract, promise, undertaking, or offer to forebear repayment of money or to make any other financial accommodation in connection with a loan of money or grant or extension of credit, or any amendment of, cancellation of, waiver of, or substitution for any or all of the terms or provisions of any instrument or document executed in connection with a loan of money or grant or extension of credit, except for loans of money or grants or extensions of credit which are:

(A) Not in excess of twenty-five thousand dollars and used primarily for personal, family, or household purposes of the debtor or debtors; or

(B) Used for the purchase of and secured solely by the principal residence of the debtor or debtors.

(b) Credit agreement does not include (i) letters of credit or (ii) promissory notes, real estate mortgages, trust deeds, security agreements, financing statements, guarantee agreements, pledge agreements, or other similar documents or instruments evidencing an obligation to repay indebtedness or securing the repayment of indebtedness;

(2) Creditor means any financial institution which makes a credit agreement with a debtor;

(3) Debtor means a person or entity which obtains credit from a creditor, seeks a credit agreement with a creditor, or owes money to a creditor; and

(4) Financial institution means a state-chartered or federally chartered bank, savings bank, building and loan association, credit union, or savings and loan association or a holding company or affiliate or subsidiary of such an institution.


  • The broad language in the definition of credit agreements precludes recovery for a credit agreement based on the promissory estoppel doctrine, which is wholly dependent on reliance on a promise or assurance. Synergy4 Enters. v. Pinnacle Bank, 290 Neb. 241, 859 N.W.2d 552 (2015).