Okla. Stat. tit. 12A, § 12A-2A-219
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-219, 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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Risk of loss
Official statutory text
RISK OF LOSS
(1) Except in the case of a finance lease, risk of loss is
retained by the lessor and does not pass to the lessee. In the case
of a finance lease, risk of loss passes to the lessee.
(2) Subject to the provisions of this article on the effect of
default on risk of loss (Section 29 of this act), if risk of loss is
to pass to the lessee and the time of passage is not stated, the
following rules apply:
(a) If the lease contract requires or authorizes the
goods to be shipped by carrier:
(i) and it does not require delivery at a
particular destination, the risk of loss passes to the lessee when
the goods are duly delivered to the carrier; but
(ii) if it does require delivery at a particular
destination and the goods are there duly tendered while in the
possession of the carrier, the risk of loss passes to the lessee
when the goods are there duly so tendered as to enable the lessee to
take delivery.
(b) If the goods are held by a bailee to be
delivered without being moved, the risk of loss passes to the lessee
on acknowledgment by the bailee of the lessee's right to possession
of the goods.
(c) In any case not within paragraph (a) or (b) of
this subsection, the risk of loss passes to the lessee on the
lessee's receipt of the goods if the lessor, or, in the case of a
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 248
finance lease, the supplier, is a merchant; otherwise the risk
passes to the lessee on tender of delivery.
(1) Except in the case of a finance lease, risk of loss is
retained by the lessor and does not pass to the lessee. In the case
of a finance lease, risk of loss passes to the lessee.
(2) Subject to the provisions of this article on the effect of
default on risk of loss (Section 29 of this act), if risk of loss is
to pass to the lessee and the time of passage is not stated, the
following rules apply:
(a) If the lease contract requires or authorizes the
goods to be shipped by carrier:
(i) and it does not require delivery at a
particular destination, the risk of loss passes to the lessee when
the goods are duly delivered to the carrier; but
(ii) if it does require delivery at a particular
destination and the goods are there duly tendered while in the
possession of the carrier, the risk of loss passes to the lessee
when the goods are there duly so tendered as to enable the lessee to
take delivery.
(b) If the goods are held by a bailee to be
delivered without being moved, the risk of loss passes to the lessee
on acknowledgment by the bailee of the lessee's right to possession
of the goods.
(c) In any case not within paragraph (a) or (b) of
this subsection, the risk of loss passes to the lessee on the
lessee's receipt of the goods if the lessor, or, in the case of a
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 248
finance lease, the supplier, is a merchant; otherwise the risk
passes to the lessee on tender of delivery.
Status: in_force · Read it on the official government site
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