Chapter 77 — Chapter 77

ORS 77.1010 Short title. This chapter may be cited as Uniform Commercial Code–Documents of Title. [1961 c.762 §77.1010]

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ORS 77.1020 Definitions and index of definitions. (1) In this chapter, unless the context otherwise requires

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ORS 77.1030 Relation of chapter to treaty or statute. (1) This chapter is subject to any treaty or statute of the United States or regulatory statute of this state to the extent the treaty, statute or regulatory statute is applicable

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ORS 77.1040 Negotiable and nonnegotiable document of title. (1) Except as otherwise provided in subsection (3) of this section, a document of title is negotiable if by its terms the goods are to be delivered to bearer or to the order of a named person

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ORS 77.1050 Reissuance in alternative medium. (1) Upon request of a person entitled under an electronic document of title, the issuer of the electronic document may issue a tangible document of title as a substitute for the electronic document if

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ORS 77.1060 Control of electronic document of title. (1) A person has control of an electronic document of title if a system employed for evidencing the transfer of interests in the electronic document reliably establishes that person as the person to which the electronic document was issued or transferred

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ORS 77.2010 Person that may issue a warehouse receipt; storage under bond. (1) A warehouse receipt may be issued by any warehouse

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ORS 77.2020 Form of warehouse receipt; effect of omission. (1) A warehouse receipt need not be in any particular form

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ORS 77.2030 Liability for nonreceipt or misdescription. A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies upon the description of the goods in the document may recover from the issuer damages caused by the nonreceipt or misdescription of the goods, except to the extent that

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ORS 77.2040 Duty of care; contractual limitation of warehouse’s liability. (1) A warehouse is liable for damages for loss of or injury to the goods caused by its failure to exercise care with regard to the goods that a reasonably careful person would exercise under similar circumstances. Unless otherwise agreed, the warehouse is not liable for damages that could not have been avoided by the exercise of that care

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ORS 77.2050 Title under warehouse receipt defeated in certain cases. A buyer in ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling such goods takes the goods free of any claim under a warehouse receipt even if the receipt is negotiable and has been duly negotiated. [1961 c.726 §77.2050; 2009 c.181 §59]

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ORS 77.2060 Termination of storage at warehouse’s option. (1) A warehouse, by giving notice to the person on whose account the goods are held and any other person known to claim an interest in the goods, may require payment of any charges and removal of the goods from the warehouse at the termination of the period of storage fixed by the document of title, or, if a period is not fixed, within a stated period not less than 30 days after the warehouse gives notice. If the goods are not removed before the date specified in the notice, the warehouse may sell them pursuant to ORS 77.2100

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ORS 77.2070 Goods must be kept separate; fungible goods. (1) Unless the warehouse receipt provides otherwise, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods. However, different lots of fungible goods may be commingled

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ORS 77.2080 Altered warehouse receipts. If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good-faith purchaser for value and without notice of the lack of authority may treat the insertion as authorized. Any other unauthorized alteration leaves any tangible or electronic warehouse receipt enforceable against the issuer according to its original tenor. [1961 c.726 §77.2080; 2009 c.181 §62]

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ORS 77.2090 Lien of warehouse. (1) A warehouse has a lien against the bailor on the goods covered by a warehouse receipt or storage agreement or on the proceeds thereof in its possession for charges for storage or transportation, including demurrage and terminal charges, insurance, labor or other charges, present or future, in relation to the goods, and for expenses necessary for preservation of the goods or reasonably incurred in their sale pursuant to law. If the person on whose account the goods are held is liable for similar charges or expenses in relation to other goods whenever deposited and it is stated in the warehouse receipt or storage agreement that a lien is claimed for charges and expenses in relation to other goods, the warehouse also has a lien against the goods covered by the warehouse receipt or storage agreement or on the proceeds thereof in its possession for those charges and expenses whether or not the other goods have been delivered by the warehouse. However, as against a person to which a negotiable warehouse receipt is duly negotiated, a warehouse’s lien is limited to charges in an amount or at a rate specified in the warehouse receipt or, if no charges are so specified, to a reasonable charge for storage of the specific goods covered by the receipt subsequent to the date of the receipt

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ORS 77.2100 Enforcement of warehouse’s lien. (1) Except as otherwise provided in subsection (2) of this section, a warehouse’s lien may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place and on any terms that are commercially reasonable, after notifying all persons known to claim an interest in the goods. The notification must include a statement of the amount due, the nature of the proposed sale and the time and place of any public sale. The fact that a better price could have been obtained by a sale at a different time or in a method different from that selected by the warehouse is not of itself sufficient to establish that the sale was not made in a commercially reasonable manner. The warehouse sells in a commercially reasonable manner if the warehouse sells the goods in the usual manner in any recognized market therefor, sells at the price current in that market at the time of sale or otherwise sells in conformity with commercially reasonable practices among dealers in the type of goods sold. A sale of more goods than apparently necessary to be offered to ensure satisfaction of the obligation is not commercially reasonable except in cases covered by the preceding sentence

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ORS 77.3010 Liability for nonreceipt or misdescription; said to contain; shipper’s weight, load and count; improper handling. (1) A consignee of a nonnegotiable bill of lading which has given value in good faith or a holder to which a negotiable bill has been duly negotiated relying upon the description of the goods in the bill or upon the date shown in the bill, may recover from the issuer damages caused by the misdating of the bill or the nonreceipt or misdescription of the goods, except to the extent that the bill indicates that the issuer does not know whether any part or all of the goods in fact were received or conform to the description, such as in a case in which the description is in terms of marks or labels or kind, quantity or condition or the receipt or description is qualified by “contents or condition of contents of packages unknown,” “said to contain,” “shipper’s weight, load and count” or words of similar import, if that indication is true

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ORS 77.3020 Through bills of lading and similar documents of title. (1) The issuer of a through bill of lading or other document of title embodying an undertaking to be performed in part by a person acting as its agent or by a performing carrier is liable to any person entitled to recover on the bill or other document for any breach by the other person or the performing carrier of its obligation under the bill or other document. However, to the extent that the bill or other document covers an undertaking to be performed overseas or in territory not contiguous to the continental United States or an undertaking including matters other than transportation, this liability for breach by the other person or the performing carrier may be varied by agreement of the parties

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ORS 77.3030 Diversion; reconsignment; change of instructions. (1) Unless the bill of lading otherwise provides, a carrier may deliver the goods to a person or destination other than that stated in the bill or may otherwise dispose of the goods, without liability for misdelivery, on instructions from

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ORS 77.3040 Bills of lading in a set. (1) Except as customary in international transportation, a tangible bill of lading may not be issued in a set of parts. The issuer is liable for damages caused by violation of this subsection

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ORS 77.3050 Destination bills. (1) Instead of issuing a bill of lading to the consignor at the place of shipment a carrier at the request of the consignor may procure the bill to be issued at destination or at any other place designated in the request

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ORS 77.3060 Altered bills of lading. An unauthorized alteration or filling in of a blank in a bill of lading leaves the bill enforceable according to its original tenor. [1961 c.726 §77.3060]

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ORS 77.3070 Lien of carrier. (1) A carrier has a lien on the goods covered by a bill of lading or on the proceeds thereof in the carrier’s possession for charges after the date of the carrier’s receipt of the goods for storage or transportation, including demurrage and terminal charges, and for expenses necessary for preservation of the goods incident to their transportation or reasonably incurred in their sale pursuant to law. However, against a purchaser for value of a negotiable bill of lading, a carrier’s lien is limited to charges stated in the bill or the applicable tariffs or, if no charges are stated, a reasonable charge

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ORS 77.3080 Enforcement of carrier’s lien. (1) A carrier’s lien on goods may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place and on any terms that are commercially reasonable, after notifying all persons known to claim an interest in the goods. The notification must include a statement of the amount due, the nature of the proposed sale and the time and place of any public sale. The fact that a better price could have been obtained by a sale at a different time or in a method different from that selected by the carrier is not of itself sufficient to establish that the sale was not made in a commercially reasonable manner. The carrier sells goods in a commercially reasonable manner if the carrier sells the goods in the usual manner in any recognized market therefor, sells at the price current in that market at the time of sale or otherwise sells in conformity with commercially reasonable practices among dealers in the type of goods sold. A sale of more goods than apparently necessary to be offered to ensure satisfaction of the obligation is not commercially reasonable except in cases covered by the preceding sentence

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ORS 77.3090 Duty of care; contractual limitation of carrier’s liability. (1) A carrier that issues a bill of lading, whether negotiable or nonnegotiable, shall exercise the degree of care in relation to the goods which a reasonably careful person would exercise under similar circumstances. This subsection does not affect any statute, regulation or rule of law that imposes liability upon a common carrier for damages not caused by its negligence

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ORS 77.4010 Irregularities in issue of receipt or bill or conduct of issuer. The obligations imposed by this chapter on an issuer apply to a document of title even if

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ORS 77.4020 Duplicate document of title; overissue. A duplicate or any other document of title purporting to cover goods already represented by an outstanding document of the same issuer does not confer any right in the goods, except as provided in the case of tangible bills of lading in a set of parts, overissue of documents for fungible goods, substitutes for lost, stolen or destroyed documents or substitute documents issued pursuant to ORS 77.1050. The issuer is liable for damages caused by its overissue or failure to identify a duplicate document by conspicuous notation. [1961 c.726 §77.4020; 2009 c.181 §74]

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ORS 77.4030 Obligation of bailee to deliver; excuse. (1) A bailee shall deliver the goods to a person entitled under a document of title if the person complies with subsections (2) and (3) of this section unless and to the extent that the bailee establishes any of the following

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ORS 77.4040 No liability for good faith delivery pursuant to document of title. A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursuant to this chapter is not liable for the goods even if

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ORS 77.5010 Form of negotiation and requirements of due negotiation. (1) The following rules apply to a negotiable tangible document of title

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ORS 77.5020 Rights acquired by due negotiation. (1) Subject to ORS 77.2050 and 77.5030, a holder to which a negotiable document of title has been duly negotiated acquires thereby

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ORS 77.5030 Document of title to goods defeated in certain cases. (1) A document of title confers no right in goods against a person that before issuance of the document had a legal interest or a perfected security interest in the goods and that did not

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ORS 77.5040 Rights acquired in the absence of due negotiation; effect of diversion; stoppage of delivery. (1) A transferee of a document of title, whether negotiable or nonnegotiable, to which the document has been delivered but not duly negotiated, acquires the title and rights that the document’s transferor had or had actual authority to convey

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ORS 77.5050 Indorser not a guarantor for other parties. The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or by previous indorsers. [1961 c.726 §77.5050; 2009 c.181 §81]

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ORS 77.5060 Delivery without indorsement; right to compel indorsement. The transferee of a negotiable tangible document of title has a specifically enforceable right to have the document’s transferor supply any necessary indorsement, but the transfer becomes a negotiation only as of the time the indorsement is supplied. [1961 c.726 §77.5060; 2009 c.181 §82]

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ORS 77.5070 Warranties on negotiation or delivery of document of title. If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under ORS 77.5080, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to the immediate purchaser only that

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ORS 77.5080 Warranties of collecting bank as to documents. A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against delivery of documents warrants by the delivery of the documents only its own good faith and authority even if the collecting bank or other intermediary has purchased or made advances against the claim or draft to be collected. [1961 c.726 §77.5080; 2009 c.181 §84]

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ORS 77.5090 Adequate compliance with commercial contract. Whether a document of title is adequate to fulfill the obligations of a contract for sale, a contract for lease or the conditions of a letter of credit is determined by ORS chapter 72, 72A or 75. [1961 c.726 §77.5090; 2009 c.181 §85]

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ORS 77.6010 Lost, stolen or destroyed documents of title. (1) If a document of title is lost, stolen or destroyed, a court may order delivery of the goods or issuance of a substitute document and the bailee may without liability to any person comply with the order. If the document was negotiable, a court may not order delivery of the goods or issuance of a substitute document without the claimant’s posting security unless it finds that any person that may suffer loss as a result of nonsurrender of possession or control of the document is adequately protected against the loss. If the document was nonnegotiable, the court may require security. The court may also order payment of the bailee’s reasonable costs and attorney fees in any action under this subsection

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ORS 77.6020 Judicial process against goods covered by negotiable document of title. Unless a document of title was originally issued upon delivery of the goods by a person that did not have power to dispose of them, a lien does not attach by virtue of any judicial process to goods in the possession of a bailee for which a negotiable document of title is outstanding unless possession or control of the document is first surrendered to the bailee or the document’s negotiation is enjoined. The bailee may not be compelled to deliver the goods pursuant to process until possession or control of the document is surrendered to the bailee or to the court. A purchaser of the document for value without notice of the process or injunction takes free of the lien imposed by judicial process. [1961 c.726 §77.6020; 2009 c.181 §87]

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ORS 77.6030 Conflicting claims; interpleader. If more than one person claims title to or possession of the goods, the bailee is excused from delivery until the bailee has a reasonable time to ascertain the validity of the adverse claims or to commence an action for interpleader. The bailee may assert an interpleader either in defending an action for nondelivery of the goods or by original action. [1961 c.726 §77.6030; 2009 c.181 §88]

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ORS 77.6040 [1961 c.726 §77.6040; 1995 c.79 §27; repealed by 2009 c.181 §116]

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