Okla. Stat. tit. 12A, § 12A-2A-305
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-305, 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 or sublease of goods by lessee
Official statutory text
SALE OR SUBLEASE OF GOODS BY LESSEE
(1) Subject to the provisions of Section 33 of this act, a
buyer or sublessee from the lessee of goods under an existing lease
contract obtains, to the extent of the interest transferred, the
leasehold interest in the goods that the lessee had or had power to
transfer, and except as provided in subsection (2) of this section
and subsection (4) of Section 58 of this act, takes subject to the
existing lease contract. A lessee with a voidable leasehold
interest has power to transfer a good leasehold interest to a good
faith buyer for value or a good faith sublessee for value, but only
to the extent provided for a buyer or sublessee from the lessee of
goods under an existing lease contract. When goods have been
delivered under a transaction of lease the lessee has that power
even though:
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 252
(a) the lessor was deceived as to the identity of
the lessee;
(b) the delivery was in exchange for a check which
is later dishonored; or
(c) the delivery was procured through fraud
punishable as larcenous under the criminal law.
(2) A buyer in the ordinary course of business or a sublessee
in the ordinary course of business from a lessee who is a merchant
dealing in goods of that kind to whom the goods were entrusted by
the lessor obtains, to the extent of the interest transferred, all
of the lessor's and lessee's rights to the goods, and takes free of
the existing lease contract.
(3) A buyer or sublessee from the lessee of goods that are
subject to an existing lease contract and are covered by a
certificate of title issued under a statute of this state or of
another jurisdiction takes no greater rights than those provided
both by this section and by the certificate of title statute.
(1) Subject to the provisions of Section 33 of this act, a
buyer or sublessee from the lessee of goods under an existing lease
contract obtains, to the extent of the interest transferred, the
leasehold interest in the goods that the lessee had or had power to
transfer, and except as provided in subsection (2) of this section
and subsection (4) of Section 58 of this act, takes subject to the
existing lease contract. A lessee with a voidable leasehold
interest has power to transfer a good leasehold interest to a good
faith buyer for value or a good faith sublessee for value, but only
to the extent provided for a buyer or sublessee from the lessee of
goods under an existing lease contract. When goods have been
delivered under a transaction of lease the lessee has that power
even though:
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 252
(a) the lessor was deceived as to the identity of
the lessee;
(b) the delivery was in exchange for a check which
is later dishonored; or
(c) the delivery was procured through fraud
punishable as larcenous under the criminal law.
(2) A buyer in the ordinary course of business or a sublessee
in the ordinary course of business from a lessee who is a merchant
dealing in goods of that kind to whom the goods were entrusted by
the lessor obtains, to the extent of the interest transferred, all
of the lessor's and lessee's rights to the goods, and takes free of
the existing lease contract.
(3) A buyer or sublessee from the lessee of goods that are
subject to an existing lease contract and are covered by a
certificate of title issued under a statute of this state or of
another jurisdiction takes no greater rights than those provided
both by this section and by the certificate of title statute.
Status: in_force · Read it on the official government site
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