Okla. Stat. tit. 12A, § 12A-7-204
This is the official text of Okla. Stat. tit. 12A, § 12A-7-204, 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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Duty of care - Contractual limitation of warehouse's
Official statutory text
liability.
Duty of Care; Contractual Limitation of Warehouse’s Liability.
(a) A warehouse is liable for damages for loss of or injury to
the goods caused by its failure to exercise care with regard to the
goods as a reasonably careful person would exercise under similar
circumstances. Unless otherwise agreed, the warehouse is not liable
for damages that could not have been avoided by the exercise of that
care.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 402
(b) Damages may be limited by a term in the warehouse receipt
or storage agreement limiting the amount of liability in case of
loss or damage beyond which the warehouse shall not be liable. Such
a limitation is not effective with respect to the warehouse’s
liability for conversion to its own use. On request of the bailor
in a record at the time of signing the storage agreement or within a
reasonable time after receipt of the warehouse receipt, the
warehouse’s liability may be increased on part or all of the goods
covered by the storage agreement or the warehouse receipt. In this
event, increased rates may be charged based on an increased
valuation of the goods.
(c) Reasonable provisions as to the time and manner of
presenting claims and commencing actions based on the bailment may
be included in the warehouse receipt or storage agreement.
Duty of Care; Contractual Limitation of Warehouse’s Liability.
(a) A warehouse is liable for damages for loss of or injury to
the goods caused by its failure to exercise care with regard to the
goods as a reasonably careful person would exercise under similar
circumstances. Unless otherwise agreed, the warehouse is not liable
for damages that could not have been avoided by the exercise of that
care.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 402
(b) Damages may be limited by a term in the warehouse receipt
or storage agreement limiting the amount of liability in case of
loss or damage beyond which the warehouse shall not be liable. Such
a limitation is not effective with respect to the warehouse’s
liability for conversion to its own use. On request of the bailor
in a record at the time of signing the storage agreement or within a
reasonable time after receipt of the warehouse receipt, the
warehouse’s liability may be increased on part or all of the goods
covered by the storage agreement or the warehouse receipt. In this
event, increased rates may be charged based on an increased
valuation of the goods.
(c) Reasonable provisions as to the time and manner of
presenting claims and commencing actions based on the bailment may
be included in the warehouse receipt or storage agreement.
Status: in_force · Read it on the official government site
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