Okla. Stat. tit. 12A, § 12A-2A-518
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-518, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Cover - Substitute goods
Official statutory text
COVER; SUBSTITUTE GOODS
(1) After a default by a lessor under the lease contract of the
type described in subsection (1) of Section 2A-508 of this title,
or, if agreed, after other default by the lessor, the lessee may
cover by making any purchase or lease of or contract to purchase or
lease goods in substitution for those due from the lessor.
(2) Except as otherwise provided with respect to damages
liquidated in the lease agreement (Section 2A-504 of this title) or
otherwise determined pursuant to agreement of the parties
(subsection (c) of Section 15 of this act and Section 2A-503 of this
title), if a lessee's cover is by a lease agreement substantially
similar to the original lease agreement and the new lease agreement
is made in good faith and in a commercially reasonable manner, the
lessee may recover from the lessor as damages:
(i) the present value, as of the date of the commencement
of the term of the new lease agreement, of the rent
under the new lease agreement applicable to that
period of the new lease term which is comparable to
the then remaining term of the original lease
agreement minus the present value as of the same date
of the total rent for the then remaining lease term of
the original lease agreement, and
(ii) any incidental or consequential damages less expenses
saved in consequence of the lessor's default.
(3) If a lessee's cover is by lease agreement that for any
reason does not qualify for treatment under subsection (2) of this
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 271
section, or is by purchase or otherwise, the lessee may recover from
the lessor as if the lessee had elected not to cover and Section 2A-
519 of this title governs.
(1) After a default by a lessor under the lease contract of the
type described in subsection (1) of Section 2A-508 of this title,
or, if agreed, after other default by the lessor, the lessee may
cover by making any purchase or lease of or contract to purchase or
lease goods in substitution for those due from the lessor.
(2) Except as otherwise provided with respect to damages
liquidated in the lease agreement (Section 2A-504 of this title) or
otherwise determined pursuant to agreement of the parties
(subsection (c) of Section 15 of this act and Section 2A-503 of this
title), if a lessee's cover is by a lease agreement substantially
similar to the original lease agreement and the new lease agreement
is made in good faith and in a commercially reasonable manner, the
lessee may recover from the lessor as damages:
(i) the present value, as of the date of the commencement
of the term of the new lease agreement, of the rent
under the new lease agreement applicable to that
period of the new lease term which is comparable to
the then remaining term of the original lease
agreement minus the present value as of the same date
of the total rent for the then remaining lease term of
the original lease agreement, and
(ii) any incidental or consequential damages less expenses
saved in consequence of the lessor's default.
(3) If a lessee's cover is by lease agreement that for any
reason does not qualify for treatment under subsection (2) of this
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 271
section, or is by purchase or otherwise, the lessee may recover from
the lessor as if the lessee had elected not to cover and Section 2A-
519 of this title governs.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.