Oregon Law
Law as of Jan 1, 2024
Chapter contents
72A.1010Short title 72A.1020Scope 72A.1030Definitions and index of definitions 72A.1040Leases subject to other statutes 72A.1050Territorial application of act to goods covered by certificate of title 72A.1060Limitation on power of parties to consumer lease to choose applicable law and judicial forum 72A.1070Waiver or renunciation of claim or right after default 72A.1080Unconscionability 72A.1090Option to accelerate at will 72A.1095Subordination by agreement 72A.2010Statute of frauds 72A.2020Final written expression; parol or extrinsic evidence 72A.2030Seals inoperative 72A.2040Formation in general 72A.2050Firm offers 72A.2060Offer and acceptance in formation of lease contract 72A.2070[1989 c.676 §16; repealed by 2009 c.181 §116] 72A.2080Modification, rescission and waiver 72A.2090Lessee under finance lease as beneficiary of supply contract 72A.2100Express warranties 72A.2110Warranties against interference and against infringement; lessee’s obligation against infringement 72A.2120Implied warranty of merchantability 72A.2130Implied warranty of fitness for particular purpose 72A.2140Exclusion or modification of warranties 72A.2150Cumulation and conflict of warranties express or implied 72A.2160Third-party beneficiaries of express and implied warranties 72A.2170Identification 72A.2180Insurance and proceeds 72A.2190Risk of loss 72A.2200Effect of default on risk of loss 72A.2210Casualty to identified goods 72A.3010Enforceability of lease contract 72A.3020Title to and possession of goods 72A.3030Alienability of party’s interest under lease contract or of lessor’s residual interest in goods; delegation of performance; transfer of rights 72A.3040Subsequent lease of goods by lessor 72A.3050Sale or sublease of goods by lessee 72A.3060Priority of certain liens arising by operation of law 72A.3070Priority of liens arising by attachment or levy on goods; priority of certain security interests in goods 72A.3080Special rights of creditors 72A.3090Lessor’s and lessee’s rights when goods become fixtures 72A.3095Fixture filing recorded and indexed as mortgage 72A.3100Lessor’s and lessee’s rights when goods become accessions 72A.4010Insecurity; adequate assurance of performance 72A.4020Anticipatory repudiation 72A.4030Retraction of anticipatory repudiation 72A.4040Substituted performance 72A.4050Excused performance 72A.4060Procedure on excused performance 72A.4070Irrevocable promises; finance leases 72A.5010Default; procedure 72A.5020Notice after default 72A.5030Modification or impairment of rights and remedies 72A.5040Liquidation of damages 72A.5050Cancellation and termination and effect of cancellation, termination, rescission or fraud on rights and remedies 72A.5060Statute of limitations 72A.5070Proof of market rent; time and place 72A.5080Lessee’s remedies 72A.5090Lessee’s rights on improper delivery; rightful rejection 72A.5100Installment lease contracts; rejection and default 72A.5110Merchant lessee’s duties as to rightfully rejected goods 72A.5120Lessee’s duties as to rightfully rejected goods 72A.5130Cure by lessor of improper tender or delivery; replacement 72A.5140Waiver of lessee’s objections 72A.5150Acceptance of goods 72A.5160Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable 72A.5170Revocation of acceptance of goods 72A.5180Cover; substitute goods 72A.5190Lessee’s damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods 72A.5200Lessee’s incidental and consequential damages 72A.5210Lessee’s right to specific performance or replevin 72A.5220Lessee’s right to goods on lessor’s insolvency 72A.5230Lessor’s remedies 72A.5240Lessor’s right to identify goods to lease contract 72A.5250Lessor’s right to possession of goods 72A.5260Lessor’s stoppage of delivery in transit or otherwise 72A.5270Lessor’s rights to dispose of goods 72A.5280Lessor’s damages for default 72A.5290Lessor’s action for the rent 72A.5295Lessor’s recovery for loss of or damage to residual interest in goods 72A.5300Lessor’s incidental damages 72A.5310Standing to sue third parties for injury to goods

Chapter 72A — Leases

ORS 72A.2180 Insurance and proceeds

(1)

A lessee obtains an insurable interest when existing goods are identified to the lease contract even though the goods identified are nonconforming and the lessee has an option to reject them.

(2)

If a lessee has an insurable interest only by reason of the lessor’s identification of the goods, the lessor, until default or insolvency or notification to the lessee that identification is final, may substitute other goods for those identified.

(3)

Notwithstanding a lessee’s insurable interest under subsections (1) and (2) of this section, the lessor retains an insurable interest until an option to buy has been exercised by the lessee and risk of loss has passed to the lessee.

(4)

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

(5)

The parties by agreement may determine that one or more parties have an obligation to obtain and pay for insurance covering the goods and by agreement may determine the beneficiary of the proceeds of the insurance.

Official sources · 2Tap to view provenance and version history

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.