Okla. Stat. tit. 12A, § 12A-2A-405
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-405, 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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Excused performance
Official statutory text
EXCUSED PERFORMANCE
Subject to Section 44 of this act on substituted performance,
the following rules apply:
(a) Delay in delivery or nondelivery in whole or in
part by a lessor or a supplier who complies with paragraphs (b) and
(c) of this section is not a default under the lease contract if
performance as agreed has been made impracticable by the occurrence
of a contingency the nonoccurrence of which was a basic assumption
on which the lease contract was made or by compliance in good faith
with any applicable foreign or domestic governmental regulation or
order, whether or not the regulation or order later proves to be
invalid.
(b) If the causes mentioned in paragraph (a) of this
section affect only part of the lessor's or the supplier's capacity
to perform, he shall allocate production and deliveries among his
customers but at his option may include regular customers not then
under contract for sale or lease as well as his own requirements for
further manufacture. He may so allocate in any manner that is fair
and reasonable.
(c) The lessor seasonably shall notify the lessee
and in the case of a finance lease the supplier seasonably shall
notify the lessor and the lessee, if known, that there will be delay
or nondelivery and, if allocation is required under paragraph (b) of
this section, of the estimated quota thus made available for the
lessee.
Subject to Section 44 of this act on substituted performance,
the following rules apply:
(a) Delay in delivery or nondelivery in whole or in
part by a lessor or a supplier who complies with paragraphs (b) and
(c) of this section is not a default under the lease contract if
performance as agreed has been made impracticable by the occurrence
of a contingency the nonoccurrence of which was a basic assumption
on which the lease contract was made or by compliance in good faith
with any applicable foreign or domestic governmental regulation or
order, whether or not the regulation or order later proves to be
invalid.
(b) If the causes mentioned in paragraph (a) of this
section affect only part of the lessor's or the supplier's capacity
to perform, he shall allocate production and deliveries among his
customers but at his option may include regular customers not then
under contract for sale or lease as well as his own requirements for
further manufacture. He may so allocate in any manner that is fair
and reasonable.
(c) The lessor seasonably shall notify the lessee
and in the case of a finance lease the supplier seasonably shall
notify the lessor and the lessee, if known, that there will be delay
or nondelivery and, if allocation is required under paragraph (b) of
this section, of the estimated quota thus made available for the
lessee.
Status: in_force · Read it on the official government site
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