Okla. Stat. tit. 12A, § 12A-2A-201
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-201, 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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Statute of frauds
Official statutory text
STATUTE OF FRAUDS
(1) A lease contract is not enforceable by way of action or
defense unless:
(a) the total payments to be made under the lease
contract, excluding payments for options to renew or buy, are less
than One Thousand Dollars ($1,000.00); or
(b) there is a record, signed by the party against
whom enforcement is sought or by that party's authorized agent,
sufficient to indicate that a lease contract has been made between
the parties and to describe the goods leased and the lease term.
(2) Any description of leased goods or of the lease term is
sufficient and satisfies paragraph (b) of subsection (1) of this
section, whether or not it is specific, if it reasonably identifies
what is described.
(3) A record is not insufficient because it omits or
incorrectly states a term agreed upon, but the lease contract is not
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 240
enforceable under paragraph (b) of subsection (1) of this section
beyond the lease term and the quantity of goods shown in the record.
(4) A lease contract that does not satisfy the requirements of
subsection (1) of this section, but which is valid in other
respects, is enforceable:
(a) if the goods are to be specially manufactured or
obtained for the lessee and are not suitable for lease or sale to
others in the ordinary course of the lessor's business, and the
lessor, before notice of repudiation is received and under
circumstances that reasonably indicate that the goods are for the
lessee, has made either a substantial beginning of their manufacture
or commitments for their procurement;
(b) if the party against whom enforcement is sought
admits in that party's pleading, testimony or otherwise in court
that a lease contract was made, but the lease contract is not
enforceable under this provision beyond the quantity of goods
admitted; or
(c) with respect to goods that have been received
and accepted by the lessee.
(5) The lease term under a lease contract referred to in
subsection (4) of this section is:
(a) if there is a record signed by the party against
whom enforcement is sought or by that party's authorized agent
specifying the lease term, the term so specified;
(b) if the party against whom enforcement is sought
admits in that party's pleading, testimony, or otherwise in court a
lease term, the term so admitted; or
(c) a reasonable lease term.
(1) A lease contract is not enforceable by way of action or
defense unless:
(a) the total payments to be made under the lease
contract, excluding payments for options to renew or buy, are less
than One Thousand Dollars ($1,000.00); or
(b) there is a record, signed by the party against
whom enforcement is sought or by that party's authorized agent,
sufficient to indicate that a lease contract has been made between
the parties and to describe the goods leased and the lease term.
(2) Any description of leased goods or of the lease term is
sufficient and satisfies paragraph (b) of subsection (1) of this
section, whether or not it is specific, if it reasonably identifies
what is described.
(3) A record is not insufficient because it omits or
incorrectly states a term agreed upon, but the lease contract is not
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 240
enforceable under paragraph (b) of subsection (1) of this section
beyond the lease term and the quantity of goods shown in the record.
(4) A lease contract that does not satisfy the requirements of
subsection (1) of this section, but which is valid in other
respects, is enforceable:
(a) if the goods are to be specially manufactured or
obtained for the lessee and are not suitable for lease or sale to
others in the ordinary course of the lessor's business, and the
lessor, before notice of repudiation is received and under
circumstances that reasonably indicate that the goods are for the
lessee, has made either a substantial beginning of their manufacture
or commitments for their procurement;
(b) if the party against whom enforcement is sought
admits in that party's pleading, testimony or otherwise in court
that a lease contract was made, but the lease contract is not
enforceable under this provision beyond the quantity of goods
admitted; or
(c) with respect to goods that have been received
and accepted by the lessee.
(5) The lease term under a lease contract referred to in
subsection (4) of this section is:
(a) if there is a record signed by the party against
whom enforcement is sought or by that party's authorized agent
specifying the lease term, the term so specified;
(b) if the party against whom enforcement is sought
admits in that party's pleading, testimony, or otherwise in court a
lease term, the term so admitted; or
(c) a reasonable lease term.
Status: in_force · Read it on the official government site
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