{"data":{"id":"us-ok/okla.-stat.-tit.-15-15-215","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 15, § 15-215","heading":"Amount presumed to be damages, provision for","body":"A. A stipulation or condition in a contract except a contract\n\nto purchase and sell real property, providing for the payment of an\n\namount which shall be presumed to be the amount of damage sustained\n\nby a breach of such contract, shall be held valid, when, from the\n\nnature of the case, it would be impracticable or extremely difficult\n\nto fix the actual damage.\n\nB. A provision in a real estate sales contract, providing for\n\nthe payment of anamount which shall be presumed to be the amount of\n\ndamages sustained by a breach of such contract, shall be held valid\n\nand not a penalty, when such amount does not exceed five percent\n\n(5%) of the purchase price. In the event such amount exceeds five\n\npercent (5%) of the purchase price, such provision shall be held\n\ninvalid and a penalty unless the party seeking to uphold the\n\nprovision establishes that such amount is reasonable. If such\n\nprovision is valid under this subsection, the limitations of Section\n\n28 of Title 23 of the Oklahoma Statutes do not apply.","path":["OK Code","Title 15"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os15.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"161877b2f3c07d8375cda88dfa04412cbcb394661e033bb8c4cbd0b41afdfec3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-15-15-214","next":"us-ok/okla.-stat.-tit.-15-15-216"},"notice":"GroundRules: Original legal text. Not legal advice."}