{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-2a-220","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-2A-220","heading":"Effect of default on risk of loss","body":"EFFECT OF DEFAULT ON RISK OF LOSS\n\n(1) Where risk of loss is to pass to the lessee and the time of\n\npassage is not stated:\n\n(a) If a tender or delivery of goods so fails to\n\nconform to the lease contract as to give a right of rejection, the\n\nrisk of their loss remains with the lessor, or, in the case of a\n\nfinance lease, the supplier, until cure or acceptance.\n\n(b) If the lessee rightfully revokes acceptance, he,\n\nto the extent of any deficiency in his effective insurance coverage,\n\nmay treat the risk of loss as having remained with the lessor from\n\nthe beginning.\n\n(2) Whether or not risk of loss is to pass to the lessee, if\n\nthe lessee as to conforming goods already identified to a lease\n\ncontract repudiates or is otherwise in default under the lease\n\ncontract, the lessor, or, in the case of a finance lease, the\n\nsupplier, to the extent of any deficiency in his effective insurance\n\ncoverage may treat the risk of loss as resting on the lessee for a\n\ncommercially reasonable time.","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":"fdfc736fe7432c46c645edc99a2c420bb68507bb34a0b57f85af42e369083f7f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-2a-219","next":"us-ok/okla.-stat.-tit.-12a-12a-2a-221"},"notice":"GroundRules: Original legal text. Not legal advice."}