Title 15, Title 15 — Contracts

The consent of the parties to a contract must be: 1. Free. 2. Mutual; and, 3. Communicated by each to the other. R.L.1910, § 896.

One who finds a thing lost is not bound to take charge of it; but if he does so, he is thenceforward a bailee for the owner, with the rights and obligations of a bailee for hire. R.L.1910, § 1115.

If the finder of a thing knows or suspects who the owner is, he must, with reasonable diligence, give him notice of the finding; and if he fails to do so, he is liable in damages to the owner, and has no claim to any reward offered by him for the recovery of the thing, or to any …

The finder of a thing may, in good faith, before giving it up, require reasonable proof of ownership from any person claiming it. R.L.1910, § 1117.

The finder of a thing is entitled to compensation for all expenses necessarily incurred by him in its preservation, and for any other service necessarily performed by him about it, and to a reasonable reward for keeping it. R.L.1910, § 1118.

another. The finder of a thing may exonerate himself from liability at any time, by placing it on storage with any responsible person of good character, at a reasonable expense. R.L.1910, § 1119.

The finder of a thing may sell it, if it is a thing which is commonly the subject of sale, when the owner cannot with reasonable diligence be found; or, being found, refuses upon demand to pay the lawful charges of the finder, in the following cases: 1. When the thing is in dange…

A sale under the provisions of the last section must be made in the same manner as the sale of a thing pledged. R.L.1910, § 1121.

The owner of a thing found may exonerate himself from the claims of the finder by surrendering it to him in satisfaction thereof. R.L.1910, § 1122.

A consent which is not free, is nevertheless not absolutely void, but may be rescinded by the parties in the manner prescribed by Article 5 of this chapter. R.L.1910, § 897.

An apparent consent is not real or free when obtained through: 1. Duress. 2. Menace. 3. Fraud. 4. Undue influence. or, 5. Mistake. R.L.1910, § 898.

Consent is deemed to have been obtained through one of the causes mentioned in the last section, only when it would not have been given had such cause not existed. R.L.1910, § 899.

Duress consists in: 1. Unlawful confinement of the person of the party, or of husband or wife of such party, or of an ancestor, descendant, or adopted child of such party, husband or wife. 2. Unlawful detention of the property of any such person; or, 3. Confinement of such person…

Menace consists in a threat: 1. Of such duress as is specified in the first and third subdivisions of the last section. 2. Of unlawful and violent injury to the person or property of any such person as is specified in the last section; or, 3. Of injury to the character of any suc…

For the purpose of this Act, the term "contract of sale" shall be held to include sales purchases, agreements of sale, agreements to sell and agreements to purchase; that the word "person" wherever used in this act shall be construed to import the plural or singular, as the case …

All contracts of sales for future delivery of cotton, grain, stocks or other commodities (1) made in accordance with the rules of any board of trade, exchange or similar institution where such contracts of sale are executed and (2) actually executed on the floor of such board of …

Any broker, agent or any other person making advances to or for account of any party to any contract falling within and satisfying the provisions of the preceding section shall be entitled to recover the amount of such advances from the party to, or for account of whom, the advan…

Any contract of sale for the future delivery of cotton, grain, stocks or other commodities, which is to be settled according to or upon the basis of the public market quotations or prices made on any board of trade, exchange or similar institutions, upon which contracts of sale f…

A "bucket shop" is hereby defined to be and mean any place of business wherein are made contracts of the sort or character denounced by the preceding Section 4, of this act, and the maintenance or operation of a bucket shop at any point in this state is hereby prohibited. Laws 19…

operation of bucketshop. Every person shall furnish upon demand to any principal for whom such person has executed any contract of sale for the future delivery of any cotton, grain, stocks or other commodities a written instrument setting forth the name and location of the exchan…

of corporate charters. Any person, either as agent or principal, who enters into or assists in making any contracts of sale of the sort of character denounced by Section 564 of this title for the future delivery of cotton, grain, stocks or other commodities, or who maintains or o…

institutions - Rules and regulations - Inspection of books. There may be organized in any city in the State of Oklahoma voluntary associations to be known as cotton exchanges, grain exchanges, boards of trade or similar institutions to receive and post quotations on cotton, grain…

Delivery, etc., contemplated. Only members of cotton exchanges, grain exchanges, boards of trade or similar institutions organized under the laws of Oklahoma or any other State may provide for their use and the use of their clients, private or public wires from cities in Oklahoma…

Fraud is either actual or constructive. R.L.1910, § 902.

If any clause, sentence, paragraph or part of this act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence…

Actual fraud, within the meaning of this chapter, consists in any of the following acts, committed by a party to the contract, or with his connivance, with intent to deceive another party thereto, or to induce him to enter into the contract: 1. The suggestion, as a fact, of that …

Constructive fraud consists: 1. In any breach of duty which, without an actually fraudulent intent, gains an advantage to the person in fault, or any one claiming under him, by misleading another to his prejudice, or to the prejudice of any one claiming under him; or, 2. In any s…

This act shall be known and may be cited as the "Unfair Sales Act". Added by Laws 1949, p. 103, § 1, emerg. eff. May 18, 1949. Amended by Laws 2013, c. 331, § 1, eff. Nov. 1, 2013.

Any duly organized and existing trade association, whether incorporated or not, is hereby authorized to institute and prosecute a suit or suits for injunctive relief and costs, provided for under the terms of this act, as the real party in interest for and on behalf of one or mor…

If any subsection, sentence, clause, word, phrase or provision of this act shall for any reason be held invalid or unconstitutional, the validity of the remaining parts hereof shall not be affected thereby and to that end the provisions of this act are declared to be severable. L…

For the purposes of the Unfair Sales Act: 1. “Cost to the retailer” means the invoice cost of the merchandise to the retailer or the replacement cost of the merchandise to the retailer, whichever is the lower; less all trade discounts except customary discounts for cash; to which…

It is hereby declared that any advertising, offer to sell, or sale of any merchandise, either by retailers or wholesalers, at less than cost as defined in the Unfair Sales Act with the intent and purpose of inducing the purchase of other merchandise or of unfairly diverting trade…

A. Any retailer who shall, in contravention of the policy of the Unfair Sales Act, advertise, offer to sell or sell at retail any item of merchandise at less than cost to the retailer as defined in this act, or any wholesaler who shall, in contravention of the policy of the Unfai…

(a) In addition to the penalties provided in the Unfair Sales Act, any person injured by any violation, or who shall suffer injury from any threatened violation of the Unfair Sales Act, may maintain an action in any court of equitable jurisdiction to prevent, restrain or enjoin s…

The provisions of the Unfair Sales Act shall not apply to the following sales at retail or sales at wholesale: 1. Where seasonable merchandise is sold in bona fide clearance sales, if advertised, marked, and sold as such; 2. Where perishable merchandise must be sold promptly in o…

Any retailer or wholesaler may advertise, offer to sell, or sell merchandise at a price made in good faith to meet the price of a competitor who is selling the same article or products of comparable quality at cost to such wholesaler or retailer. The price of merchandise advertis…

channels of trade. In establishing the cost of merchandise to the retailer or wholesaler, the invoice cost of such merchandise purchased at a forced, bankrupt, closeout sale, or other sale outside of the ordinary channels of trade, may not be used as a basis for justifying a pric…

Any defendant, or any witness, in any civil action brought under the provisions of this act may be required to testify, and any defendant, or any witness, may, upon proper process, be compelled to produce his books, records, invoices and all other documents of any such defendant …

Actual fraud is always a question of fact. R.L.1910, § 905.

Undue influence consists: 1. In the use, by one in whom a confidence is reposed by another, or who holds a real or apparent authority over him, of such confidence or authority for the purpose of obtaining an unfair advantage over him. 2. In taking an unfair advantage of another's…

Mistake may be either of fact or of law. R.L.1910, § 907.

Mistake of fact is a mistake not caused by the neglect of a legal duty on the part of the person making the mistake, and consisting in: 1. An unconscious ignorance or forgetfulness of a fact past or present, material to the contract; or, 2. Belief in the present existence of a th…

Mistakes of law constitute a mistake within the meaning of this article only when it arises from: 1. A misapprehension of the law by all parties, all supposing that they knew and understood it, and all making substantially the same mistake as to the law; or, 2. A misapprehension …

Mistake of foreign laws is a mistake of fact. R.L.1910, § 910.

This act shall be known and cited as "The Industrial Selling Act." Laws 1957, p. 86, § 1.

The following words, terms and phrases shall, except where the context clearly indicates a different meaning have, when used in this act, the following meanings: (a) "Person" - Any individual, firm, partnership, corporation, or other organization; (b) "Employer" - Any person for …

business - Sales to employees. No person in this state shall, by any method or procedure, directly or indirectly, by itself or through any subsidiary agency owned or controlled in whole or in part by such person, purchase, or exhibit catalogs for the purchase of, any articles, ma…

No person shall in any form of advertising represent himself as selling at wholesale prices unless he is actually selling at wholesale prices. Laws 1957, p. 87, § 4.

any person willfully and knowingly violating any of the provisions of this law shall be guilty of a misdemeanor. Laws 1957, p. 87, § 6.

(a) Any person injured by any violation, or who shall suffer injury from any threatened violation of this act, may maintain an action in any court of equitable jurisdiction to prevent, restrain, or enjoin such violation or threatened violation. If in such action a violation or th…