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ORS 72.5110

Known as the Uniform Commercial Code

The act spans §§ 72–72 (125 sections).

Applied in 1 court decision — leading case National Farmers Organization v. Coast Trading Co. (1977)

Most recently applied in National Farmers Organization v. Coast Trading Co. (December 1977)

1961 c.726 §72.5110; 1993 c.545 §118

(1) Unless otherwise agreed tender of payment is a condition to the seller’s duty to tender and complete any delivery.

(2) Tender of payment is sufficient when made by any means or in any manner current in the ordinary course of business unless the seller demands payment in legal tender and gives any extension of time reasonably necessary to procure it.

(3) Subject to the provisions of ORS 73.0310 on the effect of an instrument on an obligation, payment by check is conditional and is defeated as between the parties by dishonor of the check on due presentment.

Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.