§ 2A-523. Lessor's Remedies
Oklahoma Statutes AnnotatedTitle 12A. Commercial Code
12A Okl.St.Ann. § 2A-523
§ 2A-523. Lessor's Remedies
(1) If a lessee wrongfully rejects or revokes acceptance of goods or fails to make a payment when due or repudiates with respect to a part or the whole, then, with respect to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole lease contract is substantially impaired (Section 2A-510 of this title), the lessee is in default under the lease contract and the lessor may:
(2) If a lessor does not fully exercise a right or obtain a remedy to which the lessor is entitled under subsection (1) of this section, the lessor may recover the loss resulting in the ordinary course of events from the lessee's default as determined in any reasonable manner, together with incidental damages, less expenses saved in consequence of the lessee's default.
Credits
Laws 1988, c. 86, § 70, eff. Nov. 1, 1988; Laws 1991, c. 117, § 20, eff. Jan. 1, 1992.
12A Okl. St. Ann. § 2A-523, OK ST T. 12A § 2A-523
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document |