1. (1) Except as otherwise provided with respect to damages liquidated in the lease agreement (Section 2A-504 of this title) or otherwise determined pursuant to agreement of the parties (subsection (3) of Section 1-102 and Section 2A-503 of this title), if a lessee elects not to cover or a lessee elects to cover and the cover is by lease agreement that for any reason does not qualify for treatment under subsection (2) of Section 2A-518 of this title, or is by purchase or otherwise, the measure of damages for nondelivery or repudiation by the lessor or for rejection or revocation of acceptance by the lessee is the present value, as of the date of the default, of the then market rent minus the present value as of the same date of the original rent, computed for the remaining lease term of the original lease agreement, together with incidental and consequential damages, less expenses saved in consequence of the lessor's default.
2. (2) Market rent is to be determined as of the place for tender or, in cases of rejection after arrival or revocation of acceptance, as of the place of arrival.
3. (3) Except as otherwise agreed, if the lessee has accepted goods and given notification (subsection (3) of Section 2A-516 of this title), the measure of damages for nonconforming tender or delivery or other default by a lessor is the loss resulting in the ordinary course of events from the lessor's default as determined in any manner that is reasonable together with incidental and consequential damages, less expenses saved in consequence of the lessor's default.

4. (4) Except as otherwise agreed, the measure of damages for breach of warranty is the present value at the time and place of acceptance of the difference between the value of the use of the goods accepted and the value if they had been as warranted for the lease term, unless special circumstances show proximate damages of a different amount, together with incidental and consequential damages, less expenses saved in consequence of the lessor's default or breach of warranty.

   Uniform Commercial Code Comment

   The Uniform Commercial Code was developed by

   The American Law Institute and the National Conference of Commissioners on Uniform State Laws. These organizations hold the copyright on the official comments to the Uniform Commercial Code. The Oklahoma Supreme Court attempted but was unable to obtain permission to reproduce the Official Comments here. For more information on these organizations, click on the links above. To email your comments, click on one of the links below.

   The American Law Institute
   4025 Chestnut Street
   Philadelphia, PA 19104
   Phone: (215) 243-1600
   FAX: (215) 243-1664
   Email

   National Conference of Commissioners on Uniform State Laws
   676 N. St. Clair Street, Suite 1700
   Chicago, Illinois 60611
   (312) 915-0195
   Email

Added by Laws 1988, HB 1683, c. 86, § 66, eff. November 1, 1988; Amended by Laws 1991, SB 25, c. 117, § 19, eff. January 1, 1992.