Oregon Law
Law as of Jan 1, 2026
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 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in general 72A.2050Firm offers 72A.2060Offer and acceptance in formation of lease contract 72A.2070[1989 c.676 §16; repealed by 2009 c.181 §116] 72A.2080Modification, rescission and waiver 72A.2090Lessee under finance lease as beneficiary of supply contract 72A.2100Express warranties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.4070 Irrevocable promises; finance leases

(1)

In the case of a finance lease that is not a consumer lease the lessee’s promises under the lease contract become irrevocable and independent upon the lessee’s acceptance of the goods.

(2)

A promise that has become irrevocable and independent under subsection (1) of this section:

(a)

Is effective and enforceable between the parties, and by or against third parties including assignees of the parties; and

(b)

Is not subject to cancellation, termination, modification, repudiation, excuse or substitution without the consent of the party to whom the promise runs.

(3)

This section shall not affect the validity under any other law of a covenant in any lease contract making the lessee’s promises irrevocable and independent upon the lessee’s acceptance of the goods.

DEFAULT

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Provenance

Version history

2026-01-01

2025 Oregon Revised Statutes — official online source