{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-2a-401","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-2A-401","heading":"Insecurity; adequate assurance of performance","body":"INSECURITY; ADEQUATE ASSURANCE OF PERFORMANCE\n\n(1) A lease contract imposes an obligation on each party that\n\nthe other's expectation of receiving due performance will not be\n\nimpaired.\n\n(2) If reasonable grounds for insecurity arise with respect to\n\nthe performance of either party, the insecure party may demand in\n\nwriting adequate assurance of due performance. Until the insecure\n\nparty receives that assurance, if commercially reasonable the\n\ninsecure party may suspend any performance for which he has not\n\nalready received the agreed return.\n\n(3) A repudiation of the lease contract occurs if assurance of\n\ndue performance adequate under the circumstances of the particular\n\ncase is not provided to the insecure party within a reasonable time,\n\nnot to exceed thirty (30) days after receipt of a demand by the\n\nother party.\n\n(4) Between merchants, the reasonableness of grounds for\n\ninsecurity and the adequacy of any assurance offered must be\n\ndetermined according to commercial standards.\n\n(5) Acceptance of any nonconforming delivery or payment does\n\nnot prejudice the aggrieved party's right to demand adequate\n\nassurance of future performance.","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":"457299ca06c8ce60ed40f6a68b6a5457ba3c19cc416907d24502c7822421e6dd","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-2a-311","next":"us-ok/okla.-stat.-tit.-12a-12a-2a-402"},"notice":"GroundRules: Original legal text. Not legal advice."}