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§ 2A-404. Substituted Performance

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 2a. Leases (Refs & Annos)
12A Okl.St.Ann. § 2A-404
§ 2A-404. Substituted Performance
Currentness
(1) If without fault of the lessee, the lessor and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance must be tendered and accepted.
(2) If the agreed means or manner of payment fails because of domestic or foreign governmental regulation:
(a) the lessor may withhold or stop delivery or cause the supplier to withhold or stop delivery unless the lessee provides a means or manner of payment that is commercially a substantial equivalent; and
(b) if delivery has already been taken, payment by the means or in the manner provided by the regulation discharges the lessee's obligation unless the regulation is discriminatory, oppressive, or predatory.

Credits

Laws 1988, c. 86, § 44, eff. Nov. 1, 1988.
12A Okl. St. Ann. § 2A-404, OK ST T. 12A § 2A-404
Current with emergency effective legislation through Chapter 29 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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