The New Jersey Nets beckon, offering a three-year, $1.025 million contract, and the Continental Basketball Association recedes further into Brad Davis' memory bank.

Davis has played out his Dallas contract and, after the current NBA meetings, he'll be talking with Nets and Mavericks. Davis, who left Maryland a year early, blossomed under Dick Motta at Dallas into the pro star the Los Angeles Lakers saw in making him a first-round pick in 1977, only to waive him in October 1978. After failures with three more NBA clubs, plus stretches in the CBA, Davis signed with Dallas Dec. 2, 1980.

Always a good fast-break leader and assist man, Davis last season developed his shooting, too, setting the NBA accuracy record for a guard, .572.

The Mavericks would like to keep him. They offer a four-year contract starting at $200,000, with yearly cost-of-living increases--but only one year guaranteed. The Nets would pay $300,000, $350,000, $375,000 the next three years--all guaranteed.

Davis is waiting to talk with Dallas' general manager, Norm Sonju, who is recovering from removal of a benign thyroid tumor. "The three-year guarantee," says Davis. "That's what I was looking for."