{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-2-505","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-2-505","heading":"Seller's shipment under reservation","body":"Seller's Shipment Under Reservation.\n\n(1) Where the seller has identified goods to the contract by or\n\nbefore shipment:\n\n(a) his procurement of a negotiable bill of lading to his own\n\norder or otherwise reserves in him a security interest in the goods.\n\nHis procurement of the bill to the order of a financing agency or of\n\nthe buyer indicates in addition only the seller's expectation of\n\ntransferring that interest to the person named.\n\n(b) a nonnegotiable bill of lading to himself or his nominee\n\nreserves possession of the goods as security but except in a case of\n\nconditional delivery (subsection (2) of Section 2-507) a\n\nnonnegotiable bill of lading naming the buyer as consignee reserves\n\nno security interest even though the seller retains possession or\n\ncontrol of the bill of lading.\n\n(2) When shipment by the seller with reservation of a security\n\ninterest is in violation of the contract for sale it constitutes an\n\nimproper contract for transportation within the preceding section\n\nbut impairs neither the rights given to the buyer by shipment and\n\nidentification of the goods to the contract nor the seller's powers\n\nas a holder of a negotiable document of title.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"99d1a4f00c665f8df3506e4021820ee9f177518552b294c455b886e07191e107","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-2-504","next":"us-ok/okla.-stat.-tit.-12a-12a-2-506"},"notice":"GroundRules: Original legal text. Not legal advice."}