(1) Title to goods cannot pass under a contract for sale prior to their identification to the contract as provided in ORS 72.5010, and unless otherwise explicitly agreed the buyer acquires by their identification a special property as limited by the Uniform Commercial Code. Any retention or reservation by the seller of the title (property) in goods shipped or delivered to the buyer is limited in effect to a reservation of a security interest. Subject to these provisions and to the provisions of ORS chapter 79 on secured transactions, title to goods passes from the seller to the buyer in any manner and on any conditions explicitly agreed on by the parties.
(2) Unless otherwise explicitly agreed title passes to the buyer at the time and place at which the seller completes performance with reference to the physical delivery of the goods, despite any reservation of a security interest and even though a document of title is to be delivered at a different time or place; and in particular and despite any reservation of a security interest by the bill of lading:
(a) If the contract requires or authorizes the seller to send the goods to the buyer but does not require the seller to deliver them at destination, title passes to the buyer at the time and place of shipment; but
(b) If the contract requires delivery at destination, title passes on tender there.
(3) Unless otherwise explicitly agreed where delivery is to be made without moving the goods:
(a) If the seller is to deliver a tangible document of title, title passes at the time when and the place where the seller delivers the document and if the seller is to deliver an electronic document of title, title passes when the seller delivers the document; or
(b) If the goods are at the time of contracting already identified and no documents of title are to be delivered, title passes at the time and place of contracting.
(4) When livestock has been delivered under a contract of sale and is transported by private, common or contract carrier, if on the accompanying brand inspection certificate or memorandum of brand inspection certificate the seller has noted that as consideration for the sale of the livestock a draft, check, certificate of deposit or note has been given, title does not pass until the instrument is paid.
(5) A rejection or other refusal by the buyer to receive or retain the goods, whether or not justified, or a justified revocation of acceptance revests title to the goods in the seller. Such revesting occurs by operation of law and is not a "sale." [1961 c.726 §72.4010; 1973 c.287 §1; 2001 c.445 §135; 2009 c.181 §29]
Structure 2021 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Section 72.1030 - Definitions and index of definitions.
Section 72.1040 - Definitions: "merchant"; "financing agency"; "between merchants."
Section 72.1050 - Definitions: "goods"; "future" goods; "lot"; "commercial unit."
Section 72.1070 - Goods to be severed from realty; recording.
Section 72.2010 - Formal requirements: statute of frauds.
Section 72.2020 - Final written expression: parol or extrinsic evidence.
Section 72.2040 - Formation in general.
Section 72.2060 - Offer and acceptance in formation of contract.
Section 72.2070 - Additional terms in acceptance or confirmation.
Section 72.2090 - Modification, rescission and waiver.
Section 72.2100 - Delegation of performance; assignment of rights.
Section 72.3020 - Unconscionable contract or clause.
Section 72.3040 - Price payable in money, goods, realty or otherwise.
Section 72.3050 - Open price term.
Section 72.3060 - Output, requirements and exclusive dealings.
Section 72.3080 - Absence of specified place for delivery.
Section 72.3090 - Absence of specific time provisions; notice of termination.
Section 72.3100 - Open time for payment or running of credit; authority to ship under reservation.
Section 72.3110 - Options and cooperation respecting performance.
Section 72.3130 - Express warranties by affirmation, promise, description, sample.
Section 72.3140 - Implied warranty: merchantability; usage of trade.
Section 72.3160 - Exclusion or modification of warranties; livestock warranty.
Section 72.3170 - Cumulation and conflict of warranties express or implied.
Section 72.3190 - F.O.B. and F.A.S. terms.
Section 72.3200 - C.I.F. and C. and F. terms.
Section 72.3220 - Delivery "ex-ship."
Section 72.3230 - Form of bill of lading required in overseas shipment; "overseas."
Section 72.3240 - "No arrival, no sale" term.
Section 72.3250 - "Letter of credit" term; "confirmed credit."
Section 72.3260 - Sale on approval and sale or return; rights of creditors.
Section 72.3270 - Special incidents of sale on approval and sale or return.
Section 72.3280 - Sale by auction.
Section 72.4010 - Passing of title; reservation for security; limited application of ORS 72.4010.
Section 72.4020 - Rights of seller’s creditors against sold goods.
Section 72.4030 - Power to transfer; good faith purchase of goods; "entrusting."
Section 72.5010 - Insurable interest in goods; manner of identification of goods.
Section 72.5020 - Buyer’s right to goods on seller’s repudiation, failure to deliver or insolvency.
Section 72.5030 - Manner of seller’s tender of delivery.
Section 72.5040 - Shipment by seller.
Section 72.5050 - Seller’s shipment under reservation.
Section 72.5060 - Rights of financing agency.
Section 72.5070 - Effect of seller’s tender; delivery on condition.
Section 72.5080 - Cure by seller of improper tender or delivery; replacement.
Section 72.5090 - Risk of loss in the absence of breach.
Section 72.5100 - Effect of breach on risk of loss.
Section 72.5110 - Tender of payment by buyer; payment by check.
Section 72.5120 - Payment by buyer before inspection.
Section 72.5130 - Buyer’s right to inspection of goods.
Section 72.5150 - Preserving evidence of goods in dispute.
Section 72.6010 - Buyer’s rights on improper delivery.
Section 72.6020 - Manner and effect of rightful rejection.
Section 72.6030 - Merchant buyer’s duties as to rightfully rejected goods.
Section 72.6050 - Waiver of buyer’s objections by failure to particularize.
Section 72.6060 - What constitutes acceptance of goods.
Section 72.6080 - Revocation of acceptance in whole or in part.
Section 72.6090 - Right to adequate assurance of performance.
Section 72.6100 - Anticipatory repudiation.
Section 72.6110 - Retraction of anticipatory repudiation.
Section 72.6120 - "Installment contract"; breach.
Section 72.6130 - Casualty to identified goods.
Section 72.6140 - Substituted performance.
Section 72.6150 - Excuse by failure of presupposed conditions.
Section 72.6160 - Procedure on notice claiming excuse.
Section 72.7020 - Seller’s remedies on discovery of buyer’s insolvency.
Section 72.7030 - Seller’s remedies in general.
Section 72.7050 - Seller’s stoppage of delivery in transit or otherwise.
Section 72.7060 - Seller’s resale including contract for resale.
Section 72.7070 - "Person in the position of a seller."
Section 72.7080 - Seller’s damages for nonacceptance or repudiation.
Section 72.7090 - Action for the price.
Section 72.7110 - Buyer’s remedies in general; buyer’s security interest in rejected goods.
Section 72.7120 - "Cover"; buyer’s procurement of substitute goods.
Section 72.7130 - Buyer’s damages for nondelivery or repudiation.
Section 72.7140 - Buyer’s damages for breach in regard to accepted goods.
Section 72.7150 - Buyer’s incidental and consequential damages.
Section 72.7160 - Buyer’s right to specific performance or replevin.
Section 72.7180 - Liquidation or limitation of damages; deposits.
Section 72.7190 - Contractual modification or limitation of remedy.
Section 72.7220 - Who can sue third parties for injury to goods.
Section 72.7230 - Proof of market price: time and place.
Section 72.7250 - Statute of limitations in contracts for sale.
Section 72.8010 - Definitions for ORS 72.8010 to 72.8200.
Section 72.8020 - Manufacturer’s implied warranty of merchantability.
Section 72.8030 - Manufacturer’s implied warranty of fitness.
Section 72.8040 - Retailer’s or distributor’s implied warranty of fitness.
Section 72.8060 - Express warranty.
Section 72.8090 - Form of express warranty; designation of service and repair facilities.
Section 72.8140 - Unauthorized or unreasonable use after sale.
Section 72.8150 - Service contract in addition to or in lieu of express warranty.
Section 72.8160 - Express warranty in addition to implied warranties.
Section 72.8180 - Buyer’s waiver of ORS 72.8010 to 72.8200.
Section 72.8190 - Status of remedies under ORS 72.8010 to 72.8200; effect of unconstitutionality.