Okla. Stat. tit. 12A § 2-707

Current through Laws 2024, c. 378.

Section 2-707 - "Person in the Position of a Seller"

(1) A "person in the position of a seller" includes as against a principal an agent who has paid or become responsible for the price of goods on behalf of his principal or anyone who otherwise holds a security interest or other right in goods similar to that of a seller.

(2) A person in the position of a seller may as provided in this article withhold or stop delivery (Section 2-705) and resell (Section 2-706) and recover incidental damages (Section 2-710).

Okla. Stat. tit. 12A, § 2-707

Laws 1961, p. 98, § 2-707.

Oklahoma Code Comment

This section is new, with no previous counterpart in Oklahoma. A financing agency qualifies as a person in the position of a seller under this section. Section 2-506 . Note, however, the restrictions on stoppage in transit in Section 2-705(3) (d) , and also that one in the position of a seller may retain only the sums up to his security interest upon resale under Sec. 2-706(6) .