Okla. Stat. tit. 12A, § 12A-2A-523
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-523, 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.
Lessor's remedies
Official statutory text
LESSOR'S REMEDIES
(1) If a lessee wrongfully rejects or revokes acceptance of
goods or fails to make a payment when due or repudiates with respect
to a part or the whole, then, with respect to any goods involved,
and with respect to all of the goods if under an installment lease
contract the value of the whole lease contract is substantially
impaired (Section 2A-510 of this title), the lessee is in default
under the lease contract and the lessor may:
(a) cancel the lease contract (subsection (1) of Section
2A-505 of this title);
(b) proceed respecting goods not identified to the lease
contract (Section 2A-524 of this title);
(c) withhold delivery of the goods and take possession of
goods previously delivered (Section 2A-525 of this
title);
(d) stop delivery of the goods by any bailee (Section 2A-
526 of this title);
(e) dispose of the goods and recover damages (Section 2A-
527 of this title), or retain the goods and recover
damages (Section 2A-528 of this title), or in a proper
case recover rent (Section 2A-529 of this title); or
(f) exercise any other rights or pursue any other remedies
provided in the lease contract.
(2) If a lessor does not fully exercise a right or obtain a
remedy to which the lessor is entitled under subsection (1) of this
section, the lessor may recover the loss resulting in the ordinary
course of events from the lessee's default as determined in any
reasonable manner, together with incidental damages, less expenses
saved in consequence of the lessee's default.
(3) If a lessee is otherwise in default under a lease contract,
the lessor may exercise the rights and pursue the remedies provided
in the lease contract, which may include a right to cancel the
lease. In addition, unless otherwise provided in the lease
contract:
(a) if the default substantially impairs the value of the
lease contract to the lessor, the lessor may exercise
the rights and pursue the remedies provided in
subsection (1) or (2) of this section; or
(b) if the default does not substantially impair the value
of the lease contract to the lessor, the lessor may
recover as provided in subsection (2) of this section.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 274
(1) If a lessee wrongfully rejects or revokes acceptance of
goods or fails to make a payment when due or repudiates with respect
to a part or the whole, then, with respect to any goods involved,
and with respect to all of the goods if under an installment lease
contract the value of the whole lease contract is substantially
impaired (Section 2A-510 of this title), the lessee is in default
under the lease contract and the lessor may:
(a) cancel the lease contract (subsection (1) of Section
2A-505 of this title);
(b) proceed respecting goods not identified to the lease
contract (Section 2A-524 of this title);
(c) withhold delivery of the goods and take possession of
goods previously delivered (Section 2A-525 of this
title);
(d) stop delivery of the goods by any bailee (Section 2A-
526 of this title);
(e) dispose of the goods and recover damages (Section 2A-
527 of this title), or retain the goods and recover
damages (Section 2A-528 of this title), or in a proper
case recover rent (Section 2A-529 of this title); or
(f) exercise any other rights or pursue any other remedies
provided in the lease contract.
(2) If a lessor does not fully exercise a right or obtain a
remedy to which the lessor is entitled under subsection (1) of this
section, the lessor may recover the loss resulting in the ordinary
course of events from the lessee's default as determined in any
reasonable manner, together with incidental damages, less expenses
saved in consequence of the lessee's default.
(3) If a lessee is otherwise in default under a lease contract,
the lessor may exercise the rights and pursue the remedies provided
in the lease contract, which may include a right to cancel the
lease. In addition, unless otherwise provided in the lease
contract:
(a) if the default substantially impairs the value of the
lease contract to the lessor, the lessor may exercise
the rights and pursue the remedies provided in
subsection (1) or (2) of this section; or
(b) if the default does not substantially impair the value
of the lease contract to the lessor, the lessor may
recover as provided in subsection (2) of this section.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 274
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.