{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-2a-518","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-2A-518","heading":"Cover - Substitute goods","body":"COVER; SUBSTITUTE GOODS\n\n(1) After a default by a lessor under the lease contract of the\n\ntype described in subsection (1) of Section 2A-508 of this title,\n\nor, if agreed, after other default by the lessor, the lessee may\n\ncover by making any purchase or lease of or contract to purchase or\n\nlease goods in substitution for those due from the lessor.\n\n(2) Except as otherwise provided with respect to damages\n\nliquidated in the lease agreement (Section 2A-504 of this title) or\n\notherwise determined pursuant to agreement of the parties\n\n(subsection (c) of Section 15 of this act and Section 2A-503 of this\n\ntitle), if a lessee's cover is by a lease agreement substantially\n\nsimilar to the original lease agreement and the new lease agreement\n\nis made in good faith and in a commercially reasonable manner, the\n\nlessee may recover from the lessor as damages:\n\n(i) the present value, as of the date of the commencement\n\nof the term of the new lease agreement, of the rent\n\nunder the new lease agreement applicable to that\n\nperiod of the new lease term which is comparable to\n\nthe then remaining term of the original lease\n\nagreement minus the present value as of the same date\n\nof the total rent for the then remaining lease term of\n\nthe original lease agreement, and\n\n(ii) any incidental or consequential damages less expenses\n\nsaved in consequence of the lessor's default.\n\n(3) If a lessee's cover is by lease agreement that for any\n\nreason does not qualify for treatment under subsection (2) of this\n\nsection, or is by purchase or otherwise, the lessee may recover from\n\nthe lessor as if the lessee had elected not to cover and Section 2A-\n\n519 of this title governs.","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":"9e0b6ec4ca36b98c5e1f4b627b04b4f375897a2a4efb91650ecd0ff6eefd03f5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-2a-517","next":"us-ok/okla.-stat.-tit.-12a-12a-2a-519"},"notice":"GroundRules: Original legal text. Not legal advice."}