Okla. Stat. tit. 12A, § 12A-2A-501
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-501, 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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Default - Procedure
Official statutory text
DEFAULT; PROCEDURE
(1) Whether the lessor or the lessee is in default under a
lease contract is determined by the lease agreement and this
article.
(2) If the lessor or the lessee is in default under the lease
contract, the party seeking enforcement has rights and remedies as
provided in this article and, except as limited by this article, as
provided in the lease agreement.
(3) If the lessor or the lessee is in default under the lease
contract, the party seeking enforcement may reduce the party's claim
to judgment, or otherwise enforce the lease contract by self-help or
any available judicial procedure or nonjudicial procedure, including
administrative proceeding, arbitration, or the like, in accordance
with this article.
(4) Except as otherwise provided in subsection (a) of Section
18 of this act or this article or the lease agreement, the rights
and remedies referred to in subsections (2) and (3) of this section
are cumulative.
(5) If the lease agreement covers both real property and goods,
the party seeking enforcement may proceed under this Part as to the
goods, or under other applicable law as to both the real property
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 261
and the goods in accordance with that party's rights and remedies in
respect of the real property, in which case this Part does not
apply.
(1) Whether the lessor or the lessee is in default under a
lease contract is determined by the lease agreement and this
article.
(2) If the lessor or the lessee is in default under the lease
contract, the party seeking enforcement has rights and remedies as
provided in this article and, except as limited by this article, as
provided in the lease agreement.
(3) If the lessor or the lessee is in default under the lease
contract, the party seeking enforcement may reduce the party's claim
to judgment, or otherwise enforce the lease contract by self-help or
any available judicial procedure or nonjudicial procedure, including
administrative proceeding, arbitration, or the like, in accordance
with this article.
(4) Except as otherwise provided in subsection (a) of Section
18 of this act or this article or the lease agreement, the rights
and remedies referred to in subsections (2) and (3) of this section
are cumulative.
(5) If the lease agreement covers both real property and goods,
the party seeking enforcement may proceed under this Part as to the
goods, or under other applicable law as to both the real property
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 261
and the goods in accordance with that party's rights and remedies in
respect of the real property, in which case this Part does not
apply.
Status: in_force · Read it on the official government site
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