ORS 71.1030¹
Supplementary general principles of law applicable

Unless displaced by the particular provisions of the Uniform Commercial Code, the principles of law and equity, including the law merchant and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, or other validating or invalidating cause shall supplement its provisions. [1961 c.726 §71.1030 (Supplementary general principles of law applicable)]

Notes of Decisions

A check payable jointly may be negotiated only by endorse­ment of all payees, and defendant bank's con­duct in paying the entire proceeds to one payee without the endorse­ment of and to the exclusion of the other payee constituted conversion. Berkheimers, Inc. v. Citizens Valley Bank, 270 Or 807, 529 P2d 903 (1974)

The general principles of conversion remain in force by virtue of this sec­tion. Berkheimers, Inc. v. Citizens Valley Bank, 270 Or 807, 529 P2d 903 (1974)

This sec­tion does not permit applica­tion of common law duty of good faith in transac­tions under ORS chapter 79 to which only statutory duty of good faith under ORS 71.2010 (General definitions) (19) applies. U.S. Na­tional Bank v. Boge 311 Or 550, 814 P2d 1082 (1991)

Law Review Cita­tions

75 OLR 493 (1996)

1 Legislative Counsel Committee, CHAPTER 71—General Provisions for Uniform Commercial Code, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors71.­pdf (2007) (last ac­cessed Feb. 12, 2009).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 71, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­071ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information