Title 8, Commercial Transactions

An offer in writing to pay a particular sum of money or to deliver a written instrument or specific personal property is, if not accepted, equivalent to the actual production and tender of the money, instrument or property.

The person to whom a tender is made shall at that time specify any objection the person may have to the money, instrument or property or the person shall be deemed to have waived it; and if the objection is to the amount of money, the terms of the instrument or the amount or kind…

Whoever pays money or delivers an instrument or property is entitled to a receipt therefor from the person to whom the payment or delivery is made, and may demand a proper signature to such receipt as a condition of the payment or delivery.

(1) For the purposes of this section: (a) “Consumer” means an individual who is purchasing goods or services for personal, family or household purposes. (b) “Consumer contract” means a contract entered into by a consumer for the purchase of goods or services for personal, family …

Any bona fide assignment of a chose in action by way of sale or pledge made in writing for a good, valuable and adequate consideration is deemed completed at the time the writing is executed by the assignor and takes effect at the time of execution according to the terms of the w…

In the case of an assignment of a thing in action, an action or suit by the assignee is without prejudice to any setoff or other defense existing at the time of, or before notice of the assignment; but this section does not apply to a negotiable instrument transferred in good fai…

As used in ORS 81.230 to 81.263: (1) “Approved unique identifier” means a number, combination of numbers and letters, or another identifier that the Secretary of State prescribes by rule. (2) “Buyer” means a person who, in the ordinary course of business, buys farm products from …

(1) The Secretary of State shall devise a method or system to provide approved unique identifiers for persons filing documents under ORS 81.230 to 81.263. (2) If necessary under federal law, the Secretary of State shall seek approval of the method or system devised under subsecti…

(1) An effective financing statement, amendment to an effective financing statement, continuation statement, statement that an effective financing statement has lapsed or other statement filed with the Secretary of State under ORS 81.230 to 81.263 may be filed in an electronic fo…

(1) The Secretary of State shall establish, implement and operate the central filing system for farm products. (2) The Secretary of State shall ensure that the central filing system for farm products described in ORS 81.230 to 81.263 complies with the requirements for a central f…

Except as provided in ORS 81.245, a buyer who in the ordinary course of business buys farm products from a seller engaged in farming operations shall take free of a security interest created by the seller, and a commission merchant or selling agent who sells in the ordinary cours…

Under the central filing system for farm products, a buyer of farm products or commission merchant or selling agent who sells farm products for others shall be subject to a security interest in such farm products created by the seller if: (1) The buyer or commission merchant or s…

(1) An effective financing statement for farm products as defined in ORS 81.230 is sufficient to register a security interest in a farm product if the statement: (a) Contains the name and address of the secured party; (b) Contains the name and address of each person, whether or n…

(1) Under the central filing system for farm products, the Secretary of State shall record the date and time of filing of effective financing statements or changes thereto, and compile this information into a master list organized according to farm products. The Secretary of Stat…

(1) On request, the Secretary of State shall furnish to persons not registered under ORS 81.251 oral confirmation within 24 hours of the existence of any effective financing statement followed by written confirmation to any buyer of farm products buying from a debtor or commissio…

Nothing in ORS 81.230 to 81.263 shall prevent a secured party from providing a courtesy notice to any person regarding the secured party’s security interests in farm products. The rights or obligations of the secured party or any other person shall not be affected by the failure …

The proper place to file an effective financing statement on farm products as defined in ORS 81.230 is in the office of the Secretary of State. [Formerly 80.127]

The proper place to register under ORS 81.251 as a buyer of farm products or a commission merchant or selling agent of farm products as defined in ORS 81.230 is in the office of the Secretary of State. The registration is effective for one year following the date of registration.…