Oklahoma Statutes
§ 12A-2A-510 — Installment lease contracts; rejection and default.
Oklahoma·Title 12A Uniform Commercial Code
INSTALLMENT LEASE CONTRACTS; REJECTION AND DEFAULT (1) Under an installment lease contract a lessee may reject any delivery that is nonconforming if the nonconformity substantially impairs the value of that delivery and cannot be cured or the nonconformity is a defect in the required documents; but if the nonconformity does not fall within subsection (2) of this section and the lessor or the supplier gives adequate assurance of its cure, the lessee must accept that delivery.
(2)Whenever nonconformity or default with respect to one or more deliveries substantially impairs the value of the installment lease contract as a whole there is a default with respect to the whole. But, the aggrieved party reinstates the installment lease contract as a whole if the aggrieved party accepts a nonconfor
Free access — add to your briefcase to read the full text and ask questions with AI
Oklahoma § 12A-2A-510 (Installment lease contracts; rejection and default.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Laws 1988, c. 86, § 57, eff. Nov. 1, 1988.
Nearby Sections
15
§ 12A-1-101
Short titles.§ 12A-1-102
Scope of article.§ 12A-1-104
Construction against implicit repeal.§ 12A-1-106
Use of singular and plural - Gender.§ 12A-1-107
Section captions.§ 12A-1-108
Repealed§ 12A-1-108.1
Relationship to Electronic Signatures in Global and§ 12A-1-202
Notice - Knowledge.§ 12A-1-203
Lease distinguished from security interest.§ 12A-1-204
"Value".§ 12A-1-205
Reasonable time - Seasonableness.§ 12A-1-206
Presumptions.