Okla. Stat. tit. 12A § 2-721

Current through Laws 2024, c. 279.
Section 2-721 - Remedies for Fraud

Remedies for material misrepresentation or fraud include all remedies available under this article for nonfraudulent breach. Neither rescission or a claim for rescission of the contract for sale nor rejection or return of the goods shall bar or be deemed inconsistent with a claim for damages or other remedy.

Okla. Stat. tit. 12A, § 2-721

Laws 1961, p. 100, § 2-721.

Oklahoma Code Comment

Previously in Oklahoma, a defrauded party had the option to rescind the agreement or to sue for damages. He could not do both. Dusbabek v. Bowers, 173 Okl. 53, 43 P.2d 97 (1935), rehearing denied, 173 Okl. 53, 47 P.2d 141. This section changes Oklahoma law by permitting a rescission and damages. All remedies available under the Commercial Code are also made available in fraud cases. It is difficult to determine what remedies would be suitable in a fraud action, but Section 2-711, which gives the buyer a security interest in the goods for the repayment of the purchase price, would be clearly applicable.