Okla. Stat. tit. 12A, § 12A-2A-519
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-519, 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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Lessee's damages for nondelivery, repudiation, default
Official statutory text
and breach of warranty in regard to accepted goods.
LESSEE'S DAMAGES FOR NONDELIVERY,
REPUDIATION, DEFAULT AND BREACH OF
WARRANTY IN REGARD TO ACCEPTED GOODS
(1) 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 elects not to cover or a lessee elects to cover
and the cover is by lease agreement that for any reason does not
qualify for treatment under subsection (2) of Section 2A-518 of this
title, or is by purchase or otherwise, the measure of damages for
nondelivery or repudiation by the lessor or for rejection or
revocation of acceptance by the lessee is the present value, as of
the date of the default, of the then market rent minus the present
value as of the same date of the original rent, computed for the
remaining lease term of the original lease agreement, together with
incidental and consequential damages, less expenses saved in
consequence of the lessor's default.
(2) Market rent is to be determined as of the place for tender
or, in cases of rejection after arrival or revocation of acceptance,
as of the place of arrival.
(3) Except as otherwise agreed, if the lessee has accepted
goods and given notification (subsection (3) of Section 2A-516 of
this title), the measure of damages for nonconforming tender or
delivery or other default by a lessor is the loss resulting in the
ordinary course of events from the lessor's default as determined in
any manner that is reasonable together with incidental and
consequential damages, less expenses saved in consequence of the
lessor's default.
(4) Except as otherwise agreed, the measure of damages for
breach of warranty is the present value at the time and place of
acceptance of the difference between the value of the use of the
goods accepted and the value if they had been as warranted for the
lease term, unless special circumstances show proximate damages of a
different amount, together with incidental and consequential
damages, less expenses saved in consequence of the lessor's default
or breach of warranty.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 272
LESSEE'S DAMAGES FOR NONDELIVERY,
REPUDIATION, DEFAULT AND BREACH OF
WARRANTY IN REGARD TO ACCEPTED GOODS
(1) 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 elects not to cover or a lessee elects to cover
and the cover is by lease agreement that for any reason does not
qualify for treatment under subsection (2) of Section 2A-518 of this
title, or is by purchase or otherwise, the measure of damages for
nondelivery or repudiation by the lessor or for rejection or
revocation of acceptance by the lessee is the present value, as of
the date of the default, of the then market rent minus the present
value as of the same date of the original rent, computed for the
remaining lease term of the original lease agreement, together with
incidental and consequential damages, less expenses saved in
consequence of the lessor's default.
(2) Market rent is to be determined as of the place for tender
or, in cases of rejection after arrival or revocation of acceptance,
as of the place of arrival.
(3) Except as otherwise agreed, if the lessee has accepted
goods and given notification (subsection (3) of Section 2A-516 of
this title), the measure of damages for nonconforming tender or
delivery or other default by a lessor is the loss resulting in the
ordinary course of events from the lessor's default as determined in
any manner that is reasonable together with incidental and
consequential damages, less expenses saved in consequence of the
lessor's default.
(4) Except as otherwise agreed, the measure of damages for
breach of warranty is the present value at the time and place of
acceptance of the difference between the value of the use of the
goods accepted and the value if they had been as warranted for the
lease term, unless special circumstances show proximate damages of a
different amount, together with incidental and consequential
damages, less expenses saved in consequence of the lessor's default
or breach of warranty.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 272
Status: in_force · Read it on the official government site
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