Okla. Stat. tit. 12A, § 12A-1-103
This is the official text of Okla. Stat. tit. 12A, § 12A-1-103, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Construction of Uniform Commercial Code to promote its
Official statutory text
purposes and policies - Applicability of supplemental principles of
law.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 172
Construction of Uniform Commercial Code to Promote Its Purposes
and Policies; Applicability of Supplemental Principles of Law.
(a) The Uniform Commercial Code shall be liberally construed
and applied to promote its underlying purposes and policies, which
are:
(1) to simplify, clarify and modernize the law governing
commercial transactions;
(2) to permit the continued expansion of commercial
practices through custom, usage and agreement of the
parties; and
(3) to make uniform the law among the various
jurisdictions.
(b) Unless displaced by the particular provisions of the
Uniform Commercial Code, the principles of law and equity, including
the law merchant and the law relative to capacity to contract,
principal and agent, estoppel, fraud, misrepresentation, duress,
coercion, mistake, bankruptcy, or other validating or invalidating
cause shall supplement its provisions.
law.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 172
Construction of Uniform Commercial Code to Promote Its Purposes
and Policies; Applicability of Supplemental Principles of Law.
(a) The Uniform Commercial Code shall be liberally construed
and applied to promote its underlying purposes and policies, which
are:
(1) to simplify, clarify and modernize the law governing
commercial transactions;
(2) to permit the continued expansion of commercial
practices through custom, usage and agreement of the
parties; and
(3) to make uniform the law among the various
jurisdictions.
(b) Unless displaced by the particular provisions of the
Uniform Commercial Code, the principles of law and equity, including
the law merchant and the law relative to capacity to contract,
principal and agent, estoppel, fraud, misrepresentation, duress,
coercion, mistake, bankruptcy, or other validating or invalidating
cause shall supplement its provisions.
Status: in_force · Read it on the official government site
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