Oregon Law
Law as of Jan 1, 2024
Chapter contents
71.1010Short titles 71.1020Scope of chapter 71.1030Construction to promote purposes and policies; applicability of supplemental principles of law 71.1040Construction against implied repeal 71.1050Severability 71.1060Use of singular and plural; gender 71.1070Captions 71.1080Relation to Electronic Signatures in Global and National Commerce Act 71.1090[1961 c.726 §71.1090; repealed by 2009 c.181 §116] 71.2010General definitions 71.2020Notice; knowledge 71.2030Lease distinguished from security interest 71.2040Value 71.2060Presumptions 71.2070[1961 c.726 §71.2070; 1993 c.545 §2; repealed by 2009 c.181 §116] 71.2080[1961 c.726 §71.2080; repealed by 2009 c.181 §116] 71.3010Territorial applicability; parties’ power to choose applicable law 71.3020Variation by agreement 71.3030Course of performance, course of dealing and usage of trade 71.3040Obligation of good faith 71.3050Remedies to be liberally administered 71.3060Waiver or renunciation of claim or right after breach 71.3070Prima facie evidence by third-party documents 71.3080Performance or acceptance under reservation of rights 71.3090Option to accelerate at will 71.3100Subordinated obligations

Chapter 71 — General Provisions for Uniform Commercial Code GENERAL PROVISIONS 71.2050 Reasonable time; seasonableness

ORS 71.3020 Variation by agreement

(1)

Except as otherwise provided in subsection

(2)

of this section or elsewhere in the Uniform Commercial Code, the effect of provisions of the Uniform Commercial Code may be varied by agreement.

(2)

The obligations of good faith, diligence, reasonableness and care prescribed by the Uniform Commercial Code may not be disclaimed by agreement. The parties, by agreement, may determine the standards by which the performance of those obligations is to be measured if those standards are not manifestly unreasonable. Whenever the Uniform Commercial Code requires an action to be taken within a reasonable time, a time that is not manifestly unreasonable may be fixed by agreement.

(3)

The presence in certain provisions of the Uniform Commercial Code of the phrase “unless otherwise agreed,” or words of similar import, does not imply that the effect of other provisions may not be varied by agreement under this section.

Note: See note under 71.3010.

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Online copy of the published ORS edition

Provenance

Version history

Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.