Known as the Uniform Commercial Code
The act spans §§ 77–77 (42 sections).
Applied in 2 court decisions — leading case United States National Bank v. Boge (1991)
Most recently applied in 128 Or. App. 328 - First Interstate Bank of Oregon, N.A. v. Wilkerson (June 1994)
1961 c.726 §77.4040; 2009 c.181 §76
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:
(1) The person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or
(2) The person to which the bailee delivered the goods did not have authority to receive the goods.
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.