Okla. Stat. tit. 12A, § 12A-2-326
This is the official text of Okla. Stat. tit. 12A, § 12A-2-326, 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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Sale on Approval and Sale or Return; Consignment Sales
Official statutory text
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).
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).
Status: in_force · Read it on the official government site
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