Okla. Stat. tit. 12A, § 12A-2-401: Passing of title - Reservation for security - Limited

application of this section.

Passing of Title; Reservation for Security; Limited Application

of this Section.

Each provision of this article with regard to the rights,

obligations and remedies of the seller, the buyer, purchasers or

other third parties applies irrespective of title to the goods

except where the provision refers to such title. Insofar as

situations are not covered by the other provisions of this article

and matters concerning title become material the following rules

apply:

(1) Title to goods cannot pass under a contract for sale prior

to their identification to the contract (Section 2-501), and unless

otherwise explicitly agreed the buyer acquires by their

identification a special property as limited by this act. Any

retention or reservation by the seller of the title (property) in

goods shipped or delivered to the buyer is limited in effect to a

reservation of a security interest. Subject to these provisions and

to the provisions of the article on Secured Transactions (Article

9), title to goods passes from the seller to the buyer in any manner

and on any conditions explicitly agreed on by the parties.

(2) Unless otherwise explicitly agreed title passes to the

buyer at the time and place at which the seller completes his

performance with reference to the physical delivery of the goods,

despite any reservation of a security interest and even though a

document of title is to be delivered at a different time or place;

and in particular and despite any reservation of a security interest

by the bill of lading:

(a) if the contract requires or authorizes the seller to send

the goods to the buyer but does not require him to deliver them at

destination, title passes to the buyer at the time and place of

shipment; but

(b) if the contract requires delivery at destination, title

passes on tender there.

(3) Unless otherwise explicitly agreed where delivery is to be

made without moving the goods,

(a) if the seller is to deliver a tangible document of title,

title passes at the time when and the place where he delivers such

documents and if the seller is to deliver an electronic document of

title, title passes when the seller delivers the document; or

(b) if the goods are at the time of contracting already

identified and no documents are to be delivered, title passes at the

time and place of contracting.

(4) A rejection or other refusal by the buyer to receive or

retain the goods, whether or not justified, or a justified

revocation of acceptance revests title to the goods in the seller.

Such revesting occurs by operation of law and is not a “sale”.