Title 8, Commercial Transactions

As used in ORS 83.010 to 83.190 unless the context requires otherwise: (1) “Cash sale price” means the price for which the seller would have sold or furnished to the buyer, and the buyer would have bought or obtained from the seller, the goods or services which are the subject ma…

(1) Except as provided in subsections (2) and (3) of this section, every retail installment contract shall be contained in a single document which shall contain the entire agreement of the parties including any promissory notes or other evidences of indebtedness between the parti…

The retail installment contract shall contain the names of the seller and the buyer, the place of business of the seller, the residence or other address of the buyer as specified by the buyer and a description or identification of the goods sold or to be sold, or services furnish…

A retail installment contract may be contained in more than one document, provided that one such document shall be an original document signed by the retail buyer, stated to be applicable to purchases of goods or services to be made by the retail buyer from time to time. In such …

(1) Retail installment contracts negotiated and entered into by mail without personal solicitation by salesmen or other representatives of the seller and based upon a catalog of the seller, or other printed solicitation of business, if such catalog or other printed solicitation c…

The seller shall not obtain the signature of the buyer to any contract when it contains blank spaces of items which are essential provisions of the transaction except as provided in ORS 83.050. However, if delivery of the goods is not made at the time of the execution of the cont…

The retail seller shall deliver to the retail buyer, or mail to the retail buyer at the address shown on the retail installment contract, a copy of the contract as accepted by the seller. Until the seller does so, the buyer shall be obligated to pay only the cash sale price. Any …

(1) At or prior to the time a retail charge agreement is made the seller shall advise the buyer in writing, on the application form or otherwise, or orally, that a service charge will be computed on the outstanding balance for each month (which need not be a calendar month) or ot…

The service charge shall be inclusive of all charges incident to investigating and making the retail installment contract or charge agreement and for the privilege of making the installment payments thereunder and no other fee, expense or charge whatsoever shall be taken, receive…

(1) Notwithstanding any other provision of ORS 83.010 to 83.190 and 83.820 to 83.895, a retail seller in a retail installment contract may contract for and charge, receive and collect a service charge computed by the actuarial method. (2) When a retail installment contract provid…

(1) Except as provided in ORS 20.082, the holder of any retail installment contract or retail charge agreement may not collect any delinquency or collection charges, including any attorney’s fee and court costs and disbursements, unless the contract or charge agreement so provide…

(1) If the cost of any insurance is included in the retail installment contract or retail charge agreement: (a) The contract or agreement shall state the nature, purpose, term and amount of such insurance. (b) The contract or agreement shall state whether the insurance is to be p…

A buyer shall be given a written receipt for any payment when made in cash. Upon written request of the buyer, the holder of a retail installment contract shall give or forward to the buyer a written statement of the dates and amounts of payments and the total amount unpaid under…

(1) Notwithstanding the provisions of any retail installment contract to the contrary, and if the rights of the purchaser have not been terminated or forfeited under the terms of the contract, any buyer may prepay in full the unpaid time balance thereof at any time before its fin…

(1) If, in a retail installment transaction, a retail buyer makes any subsequent purchases of goods or services from a retail seller from whom the buyer has previously purchased goods or services under one or more retail installment contracts, and the amounts under such previous …

No provision of a retail installment contract or retail charge agreement shall be valid: (1) By which the buyer agrees not to assert against the seller or against an assignee a claim or defense arising out of the sale. (2) That provides for a wage assignment. [1963 c.489 §15; 197…

No act or agreement of the retail buyer before or at the time of the making of a retail installment contract, retail charge agreement or purchases thereunder shall constitute a valid waiver of any of the provisions of ORS 83.010 to 83.190 or of any remedies granted to the buyer b…

Any seller who enters into any contract or agreement which does not comply with the provisions of ORS 83.010 to 83.190 or who violates any provision of ORS 83.010 to 83.190 except as a result of an accidental or bona fide error shall be barred from the recovery of any service cha…

The Attorney General of the State of Oregon or a district attorney may bring an action in the name of the state against any person to restrain and prevent any violation of ORS 83.010 to 83.190. [1963 c.489 §§19,20; 1975 c.437 §6]

Any person who violates any order or injunction issued pursuant to ORS 83.010 to 83.190 shall forfeit and pay a civil penalty of not more than $1,000. For the purpose of this section the circuit court issuing any injunction shall retain jurisdiction, and the cause shall be contin…

As used in ORS 83.510 to 83.680 except where the context otherwise requires: (1) “Cash sale price” means the price for which the motor vehicle dealer would sell to the buyer, and the buyer would buy from the motor vehicle dealer, the motor vehicle that is covered by the retail in…

(1) A retail installment contract shall be in writing, shall contain all the agreements of the parties, shall contain the names of the motor vehicle dealer and the buyer, the place of business of the motor vehicle dealer, the residence or place of business of the buyer as specifi…

(1) Except as provided in subsection (2) of this section, a retail installment contract shall not be signed by any party to the contract when the contract contains blank spaces to be filled in after the contract is executed. (2) A retail installment contract may be signed by any …

The motor vehicle dealer shall deliver to the buyer, or mail to the buyer at the address shown on the contract, a copy of the contract signed by the motor vehicle dealer. Until the motor vehicle dealer does so, a buyer who has not received delivery of the motor vehicle shall have…

A motor vehicle dealer may, in a retail installment contract, contract for and charge, receive and collect a finance charge agreed upon by the motor vehicle dealer and buyer. [1957 c.625 §§19,20,21; 1979 c.816 §3; 1981 c.412 §2; 2001 c.117 §7]

(1) Notwithstanding any other provision of ORS 83.510 to 83.680 and 83.820 to 83.895, a motor vehicle dealer, in a retail installment contract, may contract for and charge, receive and collect a finance charge computed by the actuarial method. (2) When a retail installment contra…

(1) The amount, if any, included for automobile insurance, shall not exceed the premiums chargeable in accordance with rate filings made by the insurer with the Director of the Department of Consumer and Business Services for such insurance. (2) The amount, if any, included for l…

The holder of a retail installment contract, if the contract so provides, may collect a delinquency charge on each installment in default for a period of 10 days or longer. The delinquency charge for any installment shall not exceed five percent of the delinquent installment. In …

Upon written request from the buyer, the holder of a retail installment contract shall give or forward to the buyer a written statement of the dates and amounts of payments made and the total amount unpaid on the contract. A buyer shall be given a written receipt for any payment …

After the payment of all sums for which the buyer is obligated under a retail installment contract or other security agreement, as defined in ORS 79A.1020, and upon written demand made by the buyer, the holder of such contract or agreement shall mail to the buyer at the buyer’s l…

(1) Notwithstanding the provisions of a retail installment contract to the contrary, the buyer may pay in full at any time before maturity the obligation contained in the retail installment contract. Upon the premature payment, the buyer shall receive a refund credit. The amount …

The holder of a retail installment contract, upon agreement with the buyer, may extend the scheduled due date or defer the scheduled payment of all or part of any installment or installments. In any such case, the holder may restate the amount of the installments and the time sch…

If a retail installment contract for the purchase of a motor vehicle meets the requirements of ORS 83.510 to 83.680 and contains information required by federal law to be disclosed in a retail installment contract for the purchase of a motor vehicle, the retail installment contra…

(1) No retail installment contract shall require or entail the execution, by the buyer, of any note or series of notes, which when separately negotiated will cut off as against third parties any right of action or defense which the buyer may have against the motor vehicle dealer.…

No provision in a retail installment contract by which, in the absence of the buyer’s default, the holder may, arbitrarily and without reasonable cause, accelerate the maturity of any part or all of the time balance is enforceable. This section does not prohibit provisions in a r…

(1) No provision in a retail installment contract for confession of judgment, power of attorney therefor, or wage assignment is enforceable. (2) No provision in a retail installment contract that authorizes a motor vehicle dealer or holder of the contract or other person acting o…

Any waiver of the provisions of ORS 83.510 to 83.680 shall be unenforceable and void. [1957 c.625 §28] HOME SOLICITATION SALES

(1) As used in ORS 83.710 to 83.750: (a) A transaction is a “home solicitation sale” if: (A) It is a sale, lease or rental of goods or services, as defined in ORS 83.010; (B) The seller or the seller’s representative personally solicits the sale, lease or rental, including a sale…

(1) Except as provided in this section, no enforceable agreement may be formed by a telephone solicitation sale. (2) To form a binding agreement by telephone solicitation sale, the seller must receive from the buyer a signed, written contract that contains all of the terms of the…

(1) Except as provided in subsection (5) of this section, in addition to any other right to revoke an offer or rescind a transaction that the buyer may have, the buyer has the right to cancel a home solicitation sale until 12 midnight of the third business day after the day on wh…

(1) A home solicitation sale must be evidenced by a written agreement or offer to purchase signed by the buyer. At the time a buyer executes the written agreement or offer to purchase: (a) The seller must furnish the buyer with a fully completed copy of the written agreement or o…

(1) The seller must tender to the buyer any payments made by the buyer and any note or other evidence of indebtedness within 10 days after a home solicitation sale has been canceled or an offer to purchase has been revoked. (2) If the down payment includes goods traded in, the go…

(1) Except as provided by ORS 83.740 (3), within a reasonable time after a home solicitation sale has been canceled or an offer to purchase revoked, the buyer must tender to the seller upon demand any goods delivered by the seller pursuant to the sale, but the buyer is not oblige…

(1) The disclosure provisions of ORS 83.010 to 83.680 and 83.990 shall not apply to any motor vehicle dealer or retail seller entering into a retail installment transaction when: (a) The motor vehicle dealer or retail seller regularly enters into retail installment transactions; …

(1) The disclosure provisions of ORS 83.010 to 83.680 and 83.990 shall not apply to the assignee of any retail installment contract when: (a) The assignor is a motor vehicle dealer or retail seller; (b) The assignee regularly extends credit to natural persons primarily for person…

(1) In any contract for the sale or lease of motor vehicles on any form of credit, or of consumer goods or services on credit, entered into between a motor vehicle dealer, retail seller or retail lessor and a retail buyer or retail lessee, such contract, note or any instrument or…

As used in ORS 83.850 and 83.860: (1) “Financing agency,” “motor vehicle dealer,” “retail lease,” “retail lessee” and “retail lessor” have the meanings given those terms in ORS 83.510. (2) “Goods” has the meaning for that term provided in ORS 83.010. (3) “Motor vehicle” means a m…

(1) If a lender makes a loan in close connection with the sale of goods or motor vehicles, the lender is subject to all claims and defenses of the borrower that the borrower as buyer has against the seller or motor vehicle dealer arising out of the sale, notwithstanding any agree…

As used in ORS 83.875, 83.880, 83.890 and 83.895: (1) “Goods” has the meaning for that term provided in ORS 83.010. (2) “Motor vehicles” means a motor vehicle as defined in ORS 83.510, purchased primarily for personal, family or household purposes and not primarily for business o…

A retail installment contract or retail charge agreement for the sale of motor vehicles, goods or services constitutes a bona fide time sale rather than a loan or a use of money; provided that if the contract covers motor vehicles, goods or services purchased primarily for person…