72A.1050 Territorialapplication of act to goods covered by certificate of title
72A.1060 Limitationon power of parties to consumer lease to choose applicable law and judicialforum
72A.1070 Waiveror renunciation of claim or right after default
72A.1080 Unconscionability
72A.1090 Optionto accelerate at will
72A.1095 Subordinationby agreement
FORMATIONAND CONSTRUCTION OF LEASE CONTRACT
72A.2010 Statuteof frauds
72A.2020 Finalwritten expression; parol or extrinsic evidence
72A.2030 Sealsinoperative
72A.2040 Formationin general
72A.2050 Firmoffers
72A.2060 Offerand acceptance in formation of lease contract
72A.2080 Modification,rescission and waiver
72A.2090 Lesseeunder finance lease as beneficiary of supply contract
72A.2100 Expresswarranties
72A.2110 Warrantiesagainst interference and against infringement; lessee’s obligation againstinfringement
72A.2120 Impliedwarranty of merchantability
72A.2130 Impliedwarranty of fitness for particular purpose
72A.2140 Exclusionor modification of warranties
72A.2150 Cumulationand conflict of warranties express or implied
72A.2160 Third-partybeneficiaries of express and implied warranties
72A.2170 Identification
72A.2180 Insuranceand proceeds
72A.2190 Riskof loss
72A.2200 Effectof default on risk of loss
72A.2210 Casualtyto identified goods
EFFECTOF LEASE CONTRACT
72A.3010 Enforceabilityof lease contract
72A.3020 Titleto and possession of goods
72A.3030 Alienabilityof party’s interest under lease contract or of lessor’s residual interest ingoods; delegation of performance; transfer of rights
72A.3040 Subsequentlease of goods by lessor
72A.3050 Saleor sublease of goods by lessee
72A.3060 Priorityof certain liens arising by operation of law
72A.3070 Priorityof liens arising by attachment or levy on goods; priority of certain securityinterests in goods
72A.3080 Specialrights of creditors
72A.3090 Lessor’sand lessee’s rights when goods become fixtures
72A.3095 Fixturefiling recorded and indexed as mortgage
72A.3100 Lessor’sand lessee’s rights when goods become accessions
PERFORMANCEOF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED
72A.4010 Insecurity;adequate assurance of performance
72A.4020 Anticipatoryrepudiation
72A.4030 Retractionof anticipatory repudiation
72A.4040 Substitutedperformance
72A.4050 Excusedperformance
72A.4060 Procedureon excused performance
72A.4070 Irrevocablepromises; finance leases
DEFAULT
72A.5010 Default;procedure
72A.5020 Noticeafter default
72A.5030 Modificationor impairment of rights and remedies
72A.5040 Liquidationof damages
72A.5050 Cancellationand termination and effect of cancellation, termination, rescission or fraud onrights and remedies
72A.5060 Statuteof limitations
72A.5070 Proofof market rent; time and place
72A.5080 Lessee’sremedies
72A.5090 Lessee’srights on improper delivery; rightful rejection
72A.5100 Installmentlease contracts; rejection and default
72A.5110 Merchantlessee’s duties as to rightfully rejected goods
72A.5120 Lessee’sduties as to rightfully rejected goods
72A.5130 Cureby lessor of improper tender or delivery; replacement
72A.5140 Waiverof lessee’s objections
72A.5150 Acceptanceof goods
72A.5160 Effectof acceptance of goods; notice of default; burden of establishing default afteracceptance; notice of claim or litigation to person answerable
72A.5170 Revocationof acceptance of goods
72A.5180 Cover;substitute goods
72A.5190 Lessee’sdamages for nondelivery, repudiation, default and breach of warranty in regardto accepted goods
72A.5200 Lessee’sincidental and consequential damages
72A.5210 Lessee’sright to specific performance or replevin
72A.5220 Lessee’sright to goods on lessor’s insolvency
72A.5230 Lessor’sremedies
72A.5240 Lessor’sright to identify goods to lease contract
72A.5250 Lessor’sright to possession of goods
72A.5260 Lessor’sstoppage of delivery in transit or otherwise
72A.5270 Lessor’srights to dispose of goods
72A.5280 Lessor’sdamages for default
72A.5290 Lessor’saction for the rent
72A.5295 Lessor’srecovery for loss of or damage to residual interest in goods
72A.5300 Lessor’sincidental damages
72A.5310 Standingto sue third parties for injury to goods
GENERALPROVISIONS
72A.1010Short title.This chapter may be cited as the Uniform Commercial Code–Leases. [1989 c.676 §1;1995 c.79 §21]
72A.1020Scope.This chapter applies to any transaction, regardless of form, that creates alease. [1989 c.676 §2]
72A.1030Definitions and index of definitions. (1) As used in this chapter, unless thecontext otherwise requires:
(a)“Buyer in ordinary course of business” means a person who in good faith andwithout knowledge that the sale to the person is in violation of the ownershiprights or security interest or leasehold interest of a third party in the goodsbuys in ordinary course from a person in the business of selling goods of thatkind but does not include a pawnbroker. “Buying” may be for cash or by exchangeof other property or on secured or unsecured credit and includes acquiringgoods or documents of title under a preexisting contract for sale but does notinclude a transfer in bulk or as security for or in total or partialsatisfaction of a money debt.
(b)“Cancellation” occurs when either party puts an end to the lease contract fordefault by the other party.
(c)“Commercial unit” means such a unit of goods as by commercial usage is a singlewhole for purposes of lease and division of which materially impairs itscharacter or value on the market or in use. A “commercial unit” may be a singlearticle, as a machine, or a set of articles, as a suite of furniture or a lineof machinery, or a quantity, as a gross or carload, or any other unit treatedin use or in the relevant market as a single whole.
(d)“Conforming goods” or “performance under a lease contract” means goods orperformance that are in accordance with the obligations under the leasecontract.
(e)“Consumer lease” means a lease that a lessor regularly engaged in the businessof leasing or selling makes to a lessee who is an individual and who takesunder the lease primarily for a personal, family or household purpose, if thetotal payments to be made under the lease contract, excluding payments foroptions to renew or buy, do not exceed $25,000.
(f)“Fault” means wrongful act, omission, breach or default.
(g)“Finance lease” means a lease in which the lessor does not select, manufactureor supply the goods, the lessor acquires the goods or the right to possessionand use of the goods in connection with the lease, and either:
(A)The lessee receives a copy of the contract evidencing the lessor’s purchase ofthe goods on or before signing the lease contract;
(B)The lessee’s approval of the contract evidencing the lessor’s purchase of thegoods is a condition to effectiveness of the lease contract;
(C)The lessor informs the lessee in writing of the identity of the supplier unlessthe lessee has selected the supplier and directed the lessor to purchase thegoods from the supplier;
(D)The lessor informs the lessee in writing that the lessee may have rights underthe contract evidencing the lessor’s purchase of the goods and the lessoradvises the lessee in writing to contact the supplier for a description of anysuch rights; or
(E)The lease contract discloses all warranties and other rights provided to thelessee by the lessor and supplier in connection with the lease contract andinforms the lessee that there are no warranties or other rights provided to thelessee by the lessor and supplier other than those disclosed in the lease contract.
(h)“Goods” means all things that are movable at the time of identification to thelease contract, or are fixtures as provided in ORS 72A.3090, but “goods” doesnot include money, documents, instruments, accounts, chattel paper, generalintangibles or minerals or the like, including oil and gas, before extraction. “Goods”also includes the unborn young of animals.
(i)“Installment lease contract” means a lease contract that authorizes or requiresthe delivery of goods in separate lots to be separately accepted, even thoughthe lease contract contains a clause “each delivery is a separate lease” or itsequivalent.
(j)“Lease” means a transfer of the right to possession and use of goods for a termin retur
72A.1050 Territorialapplication of act to goods covered by certificate of title
72A.1060 Limitationon power of parties to consumer lease to choose applicable law and judicialforum
72A.1070 Waiveror renunciation of claim or right after default
72A.1080 Unconscionability
72A.1090 Optionto accelerate at will
72A.1095 Subordinationby agreement
FORMATIONAND CONSTRUCTION OF LEASE CONTRACT
72A.2010 Statuteof frauds
72A.2020 Finalwritten expression; parol or extrinsic evidence
72A.2030 Sealsinoperative
72A.2040 Formationin general
72A.2050 Firmoffers
72A.2060 Offerand acceptance in formation of lease contract
72A.2080 Modification,rescission and waiver
72A.2090 Lesseeunder finance lease as beneficiary of supply contract
72A.2100 Expresswarranties
72A.2110 Warrantiesagainst interference and against infringement; lessee’s obligation againstinfringement
72A.2120 Impliedwarranty of merchantability
72A.2130 Impliedwarranty of fitness for particular purpose
72A.2140 Exclusionor modification of warranties
72A.2150 Cumulationand conflict of warranties express or implied
72A.2160 Third-partybeneficiaries of express and implied warranties
72A.2170 Identification
72A.2180 Insuranceand proceeds
72A.2190 Riskof loss
72A.2200 Effectof default on risk of loss
72A.2210 Casualtyto identified goods
EFFECTOF LEASE CONTRACT
72A.3010 Enforceabilityof lease contract
72A.3020 Titleto and possession of goods
72A.3030 Alienabilityof party’s interest under lease contract or of lessor’s residual interest ingoods; delegation of performance; transfer of rights
72A.3040 Subsequentlease of goods by lessor
72A.3050 Saleor sublease of goods by lessee
72A.3060 Priorityof certain liens arising by operation of law
72A.3070 Priorityof liens arising by attachment or levy on goods; priority of certain securityinterests in goods
72A.3080 Specialrights of creditors
72A.3090 Lessor’sand lessee’s rights when goods become fixtures
72A.3095 Fixturefiling recorded and indexed as mortgage
72A.3100 Lessor’sand lessee’s rights when goods become accessions
PERFORMANCEOF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED
72A.4010 Insecurity;adequate assurance of performance
72A.4020 Anticipatoryrepudiation
72A.4030 Retractionof anticipatory repudiation
72A.4040 Substitutedperformance
72A.4050 Excusedperformance
72A.4060 Procedureon excused performance
72A.4070 Irrevocablepromises; finance leases
DEFAULT
72A.5010 Default;procedure
72A.5020 Noticeafter default
72A.5030 Modificationor impairment of rights and remedies
72A.5040 Liquidationof damages
72A.5050 Cancellationand termination and effect of cancellation, termination, rescission or fraud onrights and remedies
72A.5060 Statuteof limitations
72A.5070 Proofof market rent; time and place
72A.5080 Lessee’sremedies
72A.5090 Lessee’srights on improper delivery; rightful rejection
72A.5100 Installmentlease contracts; rejection and default
72A.5110 Merchantlessee’s duties as to rightfully rejected goods
72A.5120 Lessee’sduties as to rightfully rejected goods
72A.5130 Cureby lessor of improper tender or delivery; replacement
72A.5140 Waiverof lessee’s objections
72A.5150 Acceptanceof goods
72A.5160 Effectof acceptance of goods; notice of default; burden of establishing default afteracceptance; notice of claim or litigation to person answerable
72A.5170 Revocationof acceptance of goods
72A.5180 Cover;substitute goods
72A.5190 Lessee’sdamages for nondelivery, repudiation, default and breach of warranty in regardto accepted goods
72A.5200 Lessee’sincidental and consequential damages
72A.5210 Lessee’sright to specific performance or replevin
72A.5220 Lessee’sright to goods on lessor’s insolvency
72A.5230 Lessor’sremedies
72A.5240 Lessor’sright to identify goods to lease contract
72A.5250 Lessor’sright to possession of goods
72A.5260 Lessor’sstoppage of delivery in transit or otherwise
72A.5270 Lessor’srights to dispose of goods
72A.5280 Lessor’sdamages for default
72A.5290 Lessor’saction for the rent
72A.5295 Lessor’srecovery for loss of or damage to residual interest in goods
72A.5300 Lessor’sincidental damages
72A.5310 Standingto sue third parties for injury to goods
GENERALPROVISIONS
72A.1010Short title.This chapter may be cited as the Uniform Commercial Code–Leases. [1989 c.676 §1;1995 c.79 §21]
72A.1020Scope.This chapter applies to any transaction, regardless of form, that creates alease. [1989 c.676 §2]
72A.1030Definitions and index of definitions. (1) As used in this chapter, unless thecontext otherwise requires:
(a)“Buyer in ordinary course of business” means a person who in good faith andwithout knowledge that the sale to the person is in violation of the ownershiprights or security interest or leasehold interest of a third party in the goodsbuys in ordinary course from a person in the business of selling goods of thatkind but does not include a pawnbroker. “Buying” may be for cash or by exchangeof other property or on secured or unsecured credit and includes acquiringgoods or documents of title under a preexisting contract for sale but does notinclude a transfer in bulk or as security for or in total or partialsatisfaction of a money debt.
(b)“Cancellation” occurs when either party puts an end to the lease contract fordefault by the other party.
(c)“Commercial unit” means such a unit of goods as by commercial usage is a singlewhole for purposes of lease and division of which materially impairs itscharacter or value on the market or in use. A “commercial unit” may be a singlearticle, as a machine, or a set of articles, as a suite of furniture or a lineof machinery, or a quantity, as a gross or carload, or any other unit treatedin use or in the relevant market as a single whole.
(d)“Conforming goods” or “performance under a lease contract” means goods orperformance that are in accordance with the obligations under the leasecontract.
(e)“Consumer lease” means a lease that a lessor regularly engaged in the businessof leasing or selling makes to a lessee who is an individual and who takesunder the lease primarily for a personal, family or household purpose, if thetotal payments to be made under the lease contract, excluding payments foroptions to renew or buy, do not exceed $25,000.
(f)“Fault” means wrongful act, omission, breach or default.
(g)“Finance lease” means a lease in which the lessor does not select, manufactureor supply the goods, the lessor acquires the goods or the right to possessionand use of the goods in connection with the lease, and either:
(A)The lessee receives a copy of the contract evidencing the lessor’s purchase ofthe goods on or before signing the lease contract;
(B)The lessee’s approval of the contract evidencing the lessor’s purchase of thegoods is a condition to effectiveness of the lease contract;
(C)The lessor informs the lessee in writing of the identity of the supplier unlessthe lessee has selected the supplier and directed the lessor to purchase thegoods from the supplier;
(D)The lessor informs the lessee in writing that the lessee may have rights underthe contract evidencing the lessor’s purchase of the goods and the lessoradvises the lessee in writing to contact the supplier for a description of anysuch rights; or
(E)The lease contract discloses all warranties and other rights provided to thelessee by the lessor and supplier in connection with the lease contract andinforms the lessee that there are no warranties or other rights provided to thelessee by the lessor and supplier other than those disclosed in the lease contract.
(h)“Goods” means all things that are movable at the time of identification to thelease contract, or are fixtures as provided in ORS 72A.3090, but “goods” doesnot include money, documents, instruments, accounts, chattel paper, generalintangibles or minerals or the like, including oil and gas, before extraction. “Goods”also includes the unborn young of animals.
(i)“Installment lease contract” means a lease contract that authorizes or requiresthe delivery of goods in separate lots to be separately accepted, even thoughthe lease contract contains a clause “each delivery is a separate lease” or itsequivalent.
(j)“Lease” means a transfer of the right to possession and use of goods for a termin retur
72A.1050 Territorialapplication of act to goods covered by certificate of title
72A.1060 Limitationon power of parties to consumer lease to choose applicable law and judicialforum
72A.1070 Waiveror renunciation of claim or right after default
72A.1080 Unconscionability
72A.1090 Optionto accelerate at will
72A.1095 Subordinationby agreement
FORMATIONAND CONSTRUCTION OF LEASE CONTRACT
72A.2010 Statuteof frauds
72A.2020 Finalwritten expression; parol or extrinsic evidence
72A.2030 Sealsinoperative
72A.2040 Formationin general
72A.2050 Firmoffers
72A.2060 Offerand acceptance in formation of lease contract
72A.2080 Modification,rescission and waiver
72A.2090 Lesseeunder finance lease as beneficiary of supply contract
72A.2100 Expresswarranties
72A.2110 Warrantiesagainst interference and against infringement; lessee’s obligation againstinfringement
72A.2120 Impliedwarranty of merchantability
72A.2130 Impliedwarranty of fitness for particular purpose
72A.2140 Exclusionor modification of warranties
72A.2150 Cumulationand conflict of warranties express or implied
72A.2160 Third-partybeneficiaries of express and implied warranties
72A.2170 Identification
72A.2180 Insuranceand proceeds
72A.2190 Riskof loss
72A.2200 Effectof default on risk of loss
72A.2210 Casualtyto identified goods
EFFECTOF LEASE CONTRACT
72A.3010 Enforceabilityof lease contract
72A.3020 Titleto and possession of goods
72A.3030 Alienabilityof party’s interest under lease contract or of lessor’s residual interest ingoods; delegation of performance; transfer of rights
72A.3040 Subsequentlease of goods by lessor
72A.3050 Saleor sublease of goods by lessee
72A.3060 Priorityof certain liens arising by operation of law
72A.3070 Priorityof liens arising by attachment or levy on goods; priority of certain securityinterests in goods
72A.3080 Specialrights of creditors
72A.3090 Lessor’sand lessee’s rights when goods become fixtures
72A.3095 Fixturefiling recorded and indexed as mortgage
72A.3100 Lessor’sand lessee’s rights when goods become accessions
PERFORMANCEOF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED
72A.4010 Insecurity;adequate assurance of performance
72A.4020 Anticipatoryrepudiation
72A.4030 Retractionof anticipatory repudiation
72A.4040 Substitutedperformance
72A.4050 Excusedperformance
72A.4060 Procedureon excused performance
72A.4070 Irrevocablepromises; finance leases
DEFAULT
72A.5010 Default;procedure
72A.5020 Noticeafter default
72A.5030 Modificationor impairment of rights and remedies
72A.5040 Liquidationof damages
72A.5050 Cancellationand termination and effect of cancellation, termination, rescission or fraud onrights and remedies
72A.5060 Statuteof limitations
72A.5070 Proofof market rent; time and place
72A.5080 Lessee’sremedies
72A.5090 Lessee’srights on improper delivery; rightful rejection
72A.5100 Installmentlease contracts; rejection and default
72A.5110 Merchantlessee’s duties as to rightfully rejected goods
72A.5120 Lessee’sduties as to rightfully rejected goods
72A.5130 Cureby lessor of improper tender or delivery; replacement
72A.5140 Waiverof lessee’s objections
72A.5150 Acceptanceof goods
72A.5160 Effectof acceptance of goods; notice of default; burden of establishing default afteracceptance; notice of claim or litigation to person answerable
72A.5170 Revocationof acceptance of goods
72A.5180 Cover;substitute goods
72A.5190 Lessee’sdamages for nondelivery, repudiation, default and breach of warranty in regardto accepted goods
72A.5200 Lessee’sincidental and consequential damages
72A.5210 Lessee’sright to specific performance or replevin
72A.5220 Lessee’sright to goods on lessor’s insolvency
72A.5230 Lessor’sremedies
72A.5240 Lessor’sright to identify goods to lease contract
72A.5250 Lessor’sright to possession of goods
72A.5260 Lessor’sstoppage of delivery in transit or otherwise
72A.5270 Lessor’srights to dispose of goods
72A.5280 Lessor’sdamages for default
72A.5290 Lessor’saction for the rent
72A.5295 Lessor’srecovery for loss of or damage to residual interest in goods
72A.5300 Lessor’sincidental damages
72A.5310 Standingto sue third parties for injury to goods
GENERALPROVISIONS
72A.1010Short title.This chapter may be cited as the Uniform Commercial Code–Leases. [1989 c.676 §1;1995 c.79 §21]
72A.1020Scope.This chapter applies to any transaction, regardless of form, that creates alease. [1989 c.676 §2]
72A.1030Definitions and index of definitions. (1) As used in this chapter, unless thecontext otherwise requires:
(a)“Buyer in ordinary course of business” means a person who in good faith andwithout knowledge that the sale to the person is in violation of the ownershiprights or security interest or leasehold interest of a third party in the goodsbuys in ordinary course from a person in the business of selling goods of thatkind but does not include a pawnbroker. “Buying” may be for cash or by exchangeof other property or on secured or unsecured credit and includes acquiringgoods or documents of title under a preexisting contract for sale but does notinclude a transfer in bulk or as security for or in total or partialsatisfaction of a money debt.
(b)“Cancellation” occurs when either party puts an end to the lease contract fordefault by the other party.
(c)“Commercial unit” means such a unit of goods as by commercial usage is a singlewhole for purposes of lease and division of which materially impairs itscharacter or value on the market or in use. A “commercial unit” may be a singlearticle, as a machine, or a set of articles, as a suite of furniture or a lineof machinery, or a quantity, as a gross or carload, or any other unit treatedin use or in the relevant market as a single whole.
(d)“Conforming goods” or “performance under a lease contract” means goods orperformance that are in accordance with the obligations under the leasecontract.
(e)“Consumer lease” means a lease that a lessor regularly engaged in the businessof leasing or selling makes to a lessee who is an individual and who takesunder the lease primarily for a personal, family or household purpose, if thetotal payments to be made under the lease contract, excluding payments foroptions to renew or buy, do not exceed $25,000.
(f)“Fault” means wrongful act, omission, breach or default.
(g)“Finance lease” means a lease in which the lessor does not select, manufactureor supply the goods, the lessor acquires the goods or the right to possessionand use of the goods in connection with the lease, and either:
(A)The lessee receives a copy of the contract evidencing the lessor’s purchase ofthe goods on or before signing the lease contract;
(B)The lessee’s approval of the contract evidencing the lessor’s purchase of thegoods is a condition to effectiveness of the lease contract;
(C)The lessor informs the lessee in writing of the identity of the supplier unlessthe lessee has selected the supplier and directed the lessor to purchase thegoods from the supplier;
(D)The lessor informs the lessee in writing that the lessee may have rights underthe contract evidencing the lessor’s purchase of the goods and the lessoradvises the lessee in writing to contact the supplier for a description of anysuch rights; or
(E)The lease contract discloses all warranties and other rights provided to thelessee by the lessor and supplier in connection with the lease contract andinforms the lessee that there are no warranties or other rights provided to thelessee by the lessor and supplier other than those disclosed in the lease contract.
(h)“Goods” means all things that are movable at the time of identification to thelease contract, or are fixtures as provided in ORS 72A.3090, but “goods” doesnot include money, documents, instruments, accounts, chattel paper, generalintangibles or minerals or the like, including oil and gas, before extraction. “Goods”also includes the unborn young of animals.
(i)“Installment lease contract” means a lease contract that authorizes or requiresthe delivery of goods in separate lots to be separately accepted, even thoughthe lease contract contains a clause “each delivery is a separate lease” or itsequivalent.
(j)“Lease” means a transfer of the right to possession and use of goods for a termin retur
