Territorial application of Uniform Commercial Code
- • parties’ power to choose applicable law
(1) Except as provided hereafter in this section, when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or of such other state or nation shall govern their rights and duties. Failing such agreement the Uniform Commercial Code applies to transactions bearing an appropriate relation to this state.
(2) Where one of the following provisions specifies the applicable law, that provision governs and a contrary agreement is effective only to the extent permitted by the law (including the conflict of laws rules) so specified:
(a) Rights of creditors against sold goods as specified in ORS 72.4020 (Rights of seller's creditors against sold goods).
(b) Applicability of ORS chapter 72A on leases.
(c) Applicability of ORS chapter 74 as specified in ORS 74.1020 (Applicability).
(d) Applicability of ORS chapter 74A as specified in ORS 74A.5070 (Choice of law).
(e) Applicability of ORS chapter 75 as specified in ORS 75.1160 (Choice of law and forum).
(f) Applicability of ORS chapter 78 as specified in ORS 78.1100 (Applicability).
(g) ORS 79.0301 (UCC 9-301. Law governing perfection and priority of security interests) to 79.0307 (UCC 9-307. Location of debtor) governing perfection, the effect of perfection or nonperfection, and the priority of security interests and agricultural liens. [1961 c.726 §71.1050 (Territorial application of Uniform Commercial Code); 1973 c.504 §1; 1989 c.676 §80; 1991 c.83 §3; 1995 c.328 §66; 1997 c.150 §3; 2001 c.445 §130]
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