Okla. Stat. tit. 14A, § 14A-2-504
This is the official text of Okla. Stat. tit. 14A, § 14A-2-504, part of Oklahoma’s Stat. tit. 14A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 14A,." Browse the sections below, each linked to its official government source.
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Restoration of down payment - Retention of cancellation
Official statutory text
fee.
(1) Except as provided in this section, within ten (10) days
after a home solicitation sale has been cancelled or an offer to
purchase revoked the seller must tender to the buyer any payments
made by the buyer and any note or other evidence of indebtedness.
(2) If the down payment includes goods traded in, the goods
must be tendered in substantially as good condition as when received
by the seller. If the seller fails to tender the goods as provided
by this section, the buyer may elect to recover an amount equal to
the trade-in allowance stated in the agreement.
(3) The seller may retain as a cancellation fee five percent
(5%) of the cash price but not exceeding the amount of the cash down
payment. If the seller fails to comply with an obligation imposed
by this section, or if the buyer avoids the sale on any ground
independent of his right to cancel provided by the provisions on the
buyer's right to cancel (subsection (1) of Section 2-502) or revokes
his offer to purchase, the seller is not entitled to retain a
cancellation fee.
(4) Until the seller has complied with the obligations imposed
by this section the buyer may retain possession of goods delivered
to him by the seller and has a lien on the goods in his possession
or control for any recovery to which he is entitled.
(1) Except as provided in this section, within ten (10) days
after a home solicitation sale has been cancelled or an offer to
purchase revoked the seller must tender to the buyer any payments
made by the buyer and any note or other evidence of indebtedness.
(2) If the down payment includes goods traded in, the goods
must be tendered in substantially as good condition as when received
by the seller. If the seller fails to tender the goods as provided
by this section, the buyer may elect to recover an amount equal to
the trade-in allowance stated in the agreement.
(3) The seller may retain as a cancellation fee five percent
(5%) of the cash price but not exceeding the amount of the cash down
payment. If the seller fails to comply with an obligation imposed
by this section, or if the buyer avoids the sale on any ground
independent of his right to cancel provided by the provisions on the
buyer's right to cancel (subsection (1) of Section 2-502) or revokes
his offer to purchase, the seller is not entitled to retain a
cancellation fee.
(4) Until the seller has complied with the obligations imposed
by this section the buyer may retain possession of goods delivered
to him by the seller and has a lien on the goods in his possession
or control for any recovery to which he is entitled.
Status: in_force · Read it on the official government site
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