Okla. Stat. tit. 12A, § 12A-2A-221
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-221, 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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Casualty to identified goods
Official statutory text
CASUALTY TO IDENTIFIED GOODS
If a lease contract requires goods identified when the lease
contract is made, and the goods suffer casualty without fault of the
lessee, the lessor or the supplier before delivery, or the goods
suffer casualty before risk of loss passes to the lessee pursuant to
the lease agreement or Section 29 of this act, then:
(a) if the loss is total, the lease contract is
avoided; and
(b) if the loss is partial or the goods have so
deteriorated as to no longer conform to the lease contract, the
lessee may nevertheless demand inspection and at his option either
treat the lease contract as avoided or, except in a finance lease
that is not a consumer lease, accept the goods with due allowance
from the rent payable for the balance of the lease term for the
deterioration or the deficiency in quantity but without further
right against the lessor.
If a lease contract requires goods identified when the lease
contract is made, and the goods suffer casualty without fault of the
lessee, the lessor or the supplier before delivery, or the goods
suffer casualty before risk of loss passes to the lessee pursuant to
the lease agreement or Section 29 of this act, then:
(a) if the loss is total, the lease contract is
avoided; and
(b) if the loss is partial or the goods have so
deteriorated as to no longer conform to the lease contract, the
lessee may nevertheless demand inspection and at his option either
treat the lease contract as avoided or, except in a finance lease
that is not a consumer lease, accept the goods with due allowance
from the rent payable for the balance of the lease term for the
deterioration or the deficiency in quantity but without further
right against the lessor.
Status: in_force · Read it on the official government site
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