Okla. Stat. tit. 12A, § 12A-2-702
This is the official text of Okla. Stat. tit. 12A, § 12A-2-702, 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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Seller's Remedies on Discovery of Buyer's Insolvency
Official statutory text
(1) Where the seller discovers the buyer to be insolvent he may
refuse delivery except for cash including payment for all goods
theretofore delivered under the contract, and stop delivery under
this article (Section 2-705).
(2) Where the seller discovers that the buyer has received goods
on credit while insolvent he may reclaim the goods upon demand made
within ten (10) days after the receipt, but if misrepresentation of
solvency has been made to the particular seller in writing within
three (3) months before delivery the ten-day limitation does not
apply. Except as provided in this subsection the seller may not
base a right to reclaim goods on the buyer's fraudulent or innocent
misrepresentation of solvency or of intent to pay.
(3) The seller's right to reclaim under subsection (2) is
subject to the rights of a buyer in ordinary course or other good
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 222
faith purchaser under this article (Section 2-403). Successful
reclamation of goods excludes all other remedies with respect to
them.
refuse delivery except for cash including payment for all goods
theretofore delivered under the contract, and stop delivery under
this article (Section 2-705).
(2) Where the seller discovers that the buyer has received goods
on credit while insolvent he may reclaim the goods upon demand made
within ten (10) days after the receipt, but if misrepresentation of
solvency has been made to the particular seller in writing within
three (3) months before delivery the ten-day limitation does not
apply. Except as provided in this subsection the seller may not
base a right to reclaim goods on the buyer's fraudulent or innocent
misrepresentation of solvency or of intent to pay.
(3) The seller's right to reclaim under subsection (2) is
subject to the rights of a buyer in ordinary course or other good
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 222
faith purchaser under this article (Section 2-403). Successful
reclamation of goods excludes all other remedies with respect to
them.
Status: in_force · Read it on the official government site
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