Oklahoma § 12A-2-326 Sale on Approval and Sale or Return; Consignment Sales

Oklahoma Statutes

§ 12A-2-326 — Sale on Approval and Sale or Return; Consignment Sales

Oklahoma·Title 12A Uniform Commercial Code

and Rights of Creditors. Sale on Approval and Sale or Return; Consignment Sales and Rights of Creditors.

(1)Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is (a) a "sale on approval" if the goods are delivered primarily for use, and (b) a "sale or return" if the goods are delivered primarily for resale.

(2)Goods held on approval are not subject to the claims of the buyer's creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer's possession.

(3)Any "or return" term of a contract for sale is to be treated as a separate contract for sale within the statute of frauds section of this article (Section 2-201 of this title) and as contradicting the sale aspect of t

Free access — add to your briefcase to read the full text and ask questions with AI

and Rights of Creditors. Sale on Approval and Sale or Return; Consignment Sales and Rights of Creditors. (1) Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is (a) a "sale on approval" if the goods are delivered primarily for use, and (b) a "sale or return" if the goods are delivered primarily for resale. (2) Goods held on approval are not subject to the claims of the buyer's creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer's possession. (3) Any "or return" term of a contract for sale is to be treated as a separate contract for sale within the statute of frauds section of this article (Section 2-201 of this title) and as contradicting the sale aspect of the contract within the provisions of this article on parole or extrinsic evidence (Section 2-202 of this title).

Oklahoma § 12A-2-326 (Sale on Approval and Sale or Return; Consignment Sales) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.