Oregon Law
Law as of Jan 1, 2026
Chapter contents
72.1010Short title 72.1020Scope; certain security and other transactions excluded from chapter 72.1030Definitions and index of definitions 72.1040Definitions: “merchant”; “financing agency”; “between merchants.” 72.1050Definitions: “goods”; “future” goods; “lot”; “commercial unit.” 72.1060Definitions: “contract”; “agreement”; “contract for sale”; “sale”; “present sale”; “conforming” to contract; “termination”; “cancellation”; “hybrid transaction.” 72.1070Goods to be severed from realty; recording 72.2010Formal requirements: statute of frauds 72.2020Final expression: parol or extrinsic evidence 72.2030Seals inoperative 72.2040Formation in general 72.2050Firm offers 72.2060Offer and acceptance in formation of contract 72.2070Additional terms in acceptance or confirmation 72.2080[1961 c.726 §72.2080; repealed by 2009 c.181 §116] 72.2090Modification, rescission and waiver 72.2100Delegation of performance; assignment of rights 72.3010General obligations of parties 72.3020Unconscionable contract or clause 72.3030Allocation or division of risks 72.3040Price payable in money, goods, realty or otherwise 72.3050Open price term 72.3060Output, requirements and exclusive dealings 72.3070Delivery in single lot or several lots 72.3080Absence of specified place for delivery 72.3090Absence of specific time provisions; notice of termination 72.3100Open time for payment or running of credit; authority to ship under reservation 72.3110Options and cooperation respecting performance 72.3120Warranty of title and against infringement; buyer’s obligation against infringement 72.3130Express warranties by affirmation, promise, description, sample 72.3140Implied warranty: merchantability; usage of trade 72.3150Implied warranty: fitness for particular purpose 72.3160Exclusion or modification of warranties; livestock warranty 72.3170Cumulation and conflict of warranties express or implied 72.3180Third party beneficiaries of warranties express or implied 72.3190F.O.B. and F.A.S. terms 72.3200C.I.F. and C. and F. terms 72.3210C.I.F. or C. and F.: “net landed weights”; “payment on arrival”; warranty of condition on arrival 72.3220Delivery “ex-ship.” 72.3230Form of bill of lading required in overseas shipment; “overseas.” 72.3240“No arrival, no sale” term 72.3250“Letter of credit” term; “confirmed credit.” 72.3260Sale on approval and sale or return; rights of creditors 72.3270Special incidents of sale on approval and sale or return 72.3280Sale by auction 72.4005Definitions for ORS 72.4010 and 72.4030 72.4010Passing of title; reservation for security; limited application of ORS 72.4010 72.4020Rights of seller’s creditors against sold goods 72.4030Power to transfer; good faith purchase of goods; “entrusting.” 72.5010Insurable interest in goods; manner of identification of goods 72.5020Buyer’s right to goods on seller’s repudiation, failure to deliver or insolvency 72.5030Manner of seller’s tender of delivery 72.5040Shipment by seller 72.5050Seller’s shipment under reservation 72.5060Rights of financing agency 72.5070Effect of seller’s tender; delivery on condition 72.5080Cure by seller of improper tender or delivery; replacement 72.5090Risk of loss in the absence of breach 72.5100Effect of breach on risk of loss 72.5110Tender of payment by buyer; payment by check 72.5120Payment by buyer before inspection 72.5130Buyer’s right to inspection of goods 72.5140When documents deliverable on acceptance; when on payment 72.5150Preserving evidence of goods in dispute 72.6010Buyer’s rights on improper delivery 72.6020Manner and effect of rightful rejection 72.6030Merchant buyer’s duties as to rightfully rejected goods 72.6040Buyer’s options as to salvage of rightfully rejected goods 72.6050Waiver of buyer’s objections by failure to particularize 72.6060What constitutes acceptance of goods 72.6070Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over 72.6080Revocation of acceptance in whole or in part 72.6090Right to adequate assurance of performance 72.6100Anticipatory repudiation 72.6110Retraction of anticipatory repudiation 72.6120“Installment contract”; breach 72.6130Casualty to identified goods 72.6140Substituted performance 72.6150Excuse by failure of presupposed conditions 72.6160Procedure on notice claiming excuse 72.7010Remedies for breach of collateral contracts not impaired 72.7020Seller’s remedies on discovery of buyer’s insolvency 72.7030Seller’s remedies in general 72.7040Seller’s right to identify goods to the contract notwithstanding breach or to salvage unfinished goods 72.7050Seller’s stoppage of delivery in transit or otherwise 72.7060Seller’s resale including contract for resale 72.7070“Person in the position of a seller.” 72.7080Seller’s damages for nonacceptance or repudiation 72.7090Action for the price 72.7100Seller’s incidental damages 72.7110Buyer’s remedies in general; buyer’s security interest in rejected goods 72.7120“Cover”; buyer’s procurement of substitute goods 72.7130Buyer’s damages for nondelivery or repudiation 72.7140Buyer’s damages for breach in regard to accepted goods 72.7150Buyer’s incidental and consequential damages 72.7160Buyer’s right to specific performance or replevin 72.7170Deduction of damages from the price 72.7180Liquidation or limitation of damages; deposits 72.7190Contractual modification or limitation of remedy 72.7200Effect of “cancellation” or “rescission” on claims for antecedent breach 72.7210Remedies for fraud 72.7220Who can sue third parties for injury to goods 72.7230Proof of market price: time and place 72.7240Admissibility of market quotations 72.7250Statute of limitations in contracts for sale 72.8010Definitions for ORS 72.8010 to 72.8200 72.8020Manufacturer’s implied warranty of merchantability 72.8030Manufacturer’s implied warranty of fitness 72.8040Retailer’s or distributor’s implied warranty of fitness 72.8050Disclaimer of implied warranty of merchantability or implied warranty of fitness; manner and effect 72.8060Express warranty 72.8070Right to make express warranty; effect of express warranty upon disclaimer; duration of implied warranty of merchantability or implied warranty of fitness 72.8090Form of express warranty; designation of service and repair facilities 72.8100Manufacturer’s service and repair; facilities within state; nonconforming good; inability to service; buyer’s delivery or notice of nonconforming good 72.8110Retailer’s service and repair of nonconforming good in absence of manufacturer’s service and repair facilities within state; buyer’s delivery or notice of nonconforming good 72.8120Time for commencement of service and repair; effect of delay; tender of conforming goods 72.8130Liability to retailer of manufacturer not maintaining service and repair facility within state 72.8140Unauthorized or unreasonable use after sale 72.8150Service contract in addition to or in lieu of express warranty 72.8160Express warranty in addition to implied warranties 72.8170Authority of manufacturer who makes express warranty to suggest methods of effectuating service and repair 72.8180Buyer’s waiver of ORS 72.8010 to 72.8200 72.8190Status of remedies under ORS 72.8010 to 72.8200; effect of unconstitutionality 72.8200Operative dates

Chapter 72 — Sales

ORS 72.5010 Insurable interest in goods; manner of identification of goods

(1)

The buyer obtains a special property and an insurable interest in goods by identification of existing goods as goods to which the contract refers even though the goods so identified are nonconforming and the buyer has an option to return or reject them. Such identification can be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement identification occurs:

(a)

When the contract is made if it is for the sale of goods already existing and identified.

(b)

If the contract is for the sale of future goods other than those described in paragraph (c) of this subsection, when goods are shipped, marked or otherwise designated by the seller as goods to which the contract refers.

(c)

When the crops are planted or otherwise become growing crops or the young are conceived if the contract is for the sale of unborn young to be born within 12 months after contracting or for the sale of crops to be harvested within 12 months or the next normal harvest season after contracting whichever is longer.

(2)

The seller retains an insurable interest in goods so long as title to or any security interest in the goods remains in the seller and where the identification is by the seller alone the seller may, until default or insolvency or notification to the buyer that the identification is final, substitute other goods for those identified.

(3)

Nothing in this section impairs any insurable interest recognized under any other statute or rule of law.

Official sources · 2Tap to view provenance and version history

Online copy of the published ORS edition

Provenance

Version history

Earlier statutory text is available in an ingested published ORS edition.