Sale on approval and sale or return
- • rights of creditors
(1) Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is:
(a) A "sale on approval" if the goods are delivered primarily for use; and
(b) A "sale or return" if the goods are delivered primarily for resale.
(2) Goods held on approval are not subject to the claims of the buyer’s creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer’s possession.
(3) Any "or return" term of a contract for sale is to be treated as a separate contract for sale within ORS 72.2010 (Formal requirements: statute of frauds) relating to the statute of frauds and as contradicting the sale aspect of the contract within the provisions of ORS 72.2020 (Final written expression: parol or extrinsic evidence) on parole or extrinsic evidence. [1961 c.726 §72.3260 (Sale on approval and sale or return); 1967 c.395 §1; 1993 c.756 §1; 2001 c.445 §134]
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