Oklahoma § 12A-2A-503 Modification or Impairment of Rights and Remedies.

Oklahoma Statutes

§ 12A-2A-503 — Modification or Impairment of Rights and Remedies.

Oklahoma § 12A-2A-503

Title 12AUniform Commercial Code

This text of Oklahoma § 12A-2A-503 (Modification or Impairment of Rights and Remedies.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 12A, § 12A-2A-503 (2026).

Text

MODIFICATION OR IMPAIRMENT OF RIGHTS AND REMEDIES (1) Except as otherwise provided in this article, the lease agreement may include rights and remedies for default in addition to or in substitution for those provided in this article and may limit or alter the measure of damages recoverable under this article.

(2)Resort to a remedy provided under this article or in the lease agreement is optional unless the remedy is expressly agreed to be exclusive. If circumstances cause an exclusive or limited remedy to fail of its essential purpose, or provision for an exclusive remedy is unconscionable, remedy may be had as provided in this article.

(3)Consequential damages may be liquidated under Section 2A- 504 of this title, or may otherwise be limited, altered, or excluded unless the limitation,

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MODIFICATION OR IMPAIRMENT OF RIGHTS AND REMEDIES (1) Except as otherwise provided in this article, the lease agreement may include rights and remedies for default in addition to or in substitution for those provided in this article and may limit or alter the measure of damages recoverable under this article. (2) Resort to a remedy provided under this article or in the lease agreement is optional unless the remedy is expressly agreed to be exclusive. If circumstances cause an exclusive or limited remedy to fail of its essential purpose, or provision for an exclusive remedy is unconscionable, remedy may be had as provided in this article. (3) Consequential damages may be liquidated under Section 2A- 504 of this title, or may otherwise be limited, altered, or excluded unless the limitation, alteration, or exclusion is unconscionable. Limitation, alteration, or exclusion of consequential damages for injury to the person in the case of consumer goods is prima facie unconscionable but limitation, alteration, or exclusion of damages where the loss is commercial is not prima facie unconscionable. (4) Rights and remedies on default by the lessor or the lessee with respect to any obligation or promise collateral or ancillary to the lease contract are not impaired by this article.