Oklahoma § 15-215 - Amount presumed to be damages, provision for
Full text of Oklahoma Oklahoma Statutes § 15-215 — Amount presumed to be damages, provision for, with citation guidance and answers to common questions.
§ 15-215. Amount presumed to be damages, provision for
A. A stipulation or condition in a contract except a contract
to purchase and sell real property, providing for the payment of an
amount which shall be presumed to be the amount of damage sustained
by a breach of such contract, shall be held valid, when, from the
nature of the case, it would be impracticable or extremely difficult
to fix the actual damage.
B. A provision in a real estate sales contract, providing for
the payment of anamount which shall be presumed to be the amount of
damages sustained by a breach of such contract, shall be held valid
and not a penalty, when such amount does not exceed five percent
(5%) of the purchase price. In the event such amount exceeds five
percent (5%) of the purchase price, such provision shall be held
invalid and a penalty unless the party seeking to uphold the
provision establishes that such amount is reasonable. If such
provision is valid under this subsection, the limitations of Section
28 of Title 23 of the Oklahoma Statutes do not apply.
Amended by Laws 1985, c. 107, § 3, emerg. eff. May 28, 1985.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 15-215
What does Oklahoma Statutes § 15-215 cover?
Section 15-215 ("Amount presumed to be damages, provision for") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 15-215?
A common citation format is "Oklahoma Statutes § 15-215" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 15-215 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.