{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-3-416","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-3-416","heading":"Transfer Warranties","body":"TRANSFER WARRANTIES\n\n(a) A person who transfers an instrument for consideration\n\nwarrants to the transferee and, if the transfer is by indorsement,\n\nto any subsequent transferee that:\n\n(1) The warrantor is a person entitled to enforce the\n\ninstrument;\n\n(2) All signatures on the instrument are authentic and\n\nauthorized;\n\n(3) The instrument has not been altered;\n\n(4) The instrument is not subject to a defense or claim in\n\nrecoupment of any party which can be asserted against\n\nthe warrantor; and\n\n(5) The warrantor has no knowledge of any insolvency\n\nproceeding commenced with respect to the maker or\n\nacceptor or, in the case of an unaccepted draft, the\n\ndrawer.\n\n(b) A person to whom the warranties under subsection (a) of\n\nthis section are made and who took the instrument in good faith may\n\nrecover from the warrantor as damages for breach of warranty an\n\namount equal to the loss suffered as a result of the breach, but not\n\nmore than the amount of the instrument plus expenses and loss of\n\ninterest incurred as a result of the breach.\n\n(c) The warranties stated in subsection (a) of this section\n\ncannot be disclaimed with respect to checks. Unless notice of a\n\nclaim for breach of warranty is given to the warrantor within thirty\n\n(30) days after the claimant has reason to know of the breach and\n\nthe identity of the warrantor, the liability of the warrantor under\n\nsubsection (b) of this section is discharged to the extent of any\n\nloss caused by the delay in giving notice of the claim.\n\n(d) A claim for relief for breach of warranty under this\n\nsection accrues when the claimant has reason to know of the breach.","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":"43008931afd9390a8e3f90771e869d8cef341ef9d0fdb0527edef3e1b048cff3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-3-415","next":"us-ok/okla.-stat.-tit.-12a-12a-3-417"},"notice":"GroundRules: Original legal text. Not legal advice."}