(2) Except as otherwise provided with respect to damages liquidated in the lease agreement as provided in ORS 72A.5040 or otherwise determined pursuant to agreement of the parties as provided in ORS 71.3020 and 72A.5030, if the disposition is by lease agreement substantially similar to the original lease agreement and the new lease agreement is made in good faith and in a commercially reasonable manner, the lessor may recover from the lessee, as damages, accrued and unpaid rent as of the date of the commencement of the term of the new lease agreement, the present value, as of the same date, of the total rent for the then remaining lease term of the original lease agreement minus the present value, as of the same date, of the rent under the new lease agreement applicable to that period of the new lease term which is comparable to the then remaining term of the original lease agreement, and any incidental damages allowed under ORS 72A.5300, less expenses saved in consequence of the lessee’s default.
(3) If the lessor’s disposition is by lease agreement that for any reason does not qualify for treatment under subsection (2) of this section or is by sale or otherwise, the lessor may recover from the lessee as if the lessor had elected not to dispose of the goods and ORS 72A.5280 governs.
(4) A subsequent buyer or lessee who buys or leases from the lessor in good faith for value as a result of a disposition under this section takes the goods free of the original lease contract and any rights of the original lessee even though the lessor fails to comply with one or more of the requirements of this chapter.
(5) The lessor is not accountable to the lessee for any profit made on any disposition. A lessee who has rightfully rejected or justifiably revoked acceptance shall account to the lessor for any excess over the amount of the lessee’s security interest as provided in ORS 72A.5080. [1989 c.676 §74; 1993 c.646 §17; 2009 c.181 §42]
Structure 2021 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Section 72A.1030 - Definitions and index of definitions.
Section 72A.1040 - Leases subject to other statutes.
Section 72A.1050 - Territorial application of act to goods covered by certificate of title.
Section 72A.1080 - Unconscionability.
Section 72A.2010 - Statute of frauds.
Section 72A.2020 - Final written expression; parol or extrinsic evidence.
Section 72A.2040 - Formation in general.
Section 72A.2060 - Offer and acceptance in formation of lease contract.
Section 72A.2080 - Modification, rescission and waiver.
Section 72A.2090 - Lessee under finance lease as beneficiary of supply contract.
Section 72A.2100 - Express warranties.
Section 72A.2120 - Implied warranty of merchantability.
Section 72A.2140 - Exclusion or modification of warranties.
Section 72A.2150 - Cumulation and conflict of warranties express or implied.
Section 72A.2170 - Identification.
Section 72A.2180 - Insurance and proceeds.
Section 72A.2190 - Risk of loss.
Section 72A.2200 - Effect of default on risk of loss.
Section 72A.2210 - Casualty to identified goods.
Section 72A.3040 - Subsequent lease of goods by lessor.
Section 72A.3050 - Sale or sublease of goods by lessee.
Section 72A.3080 - Special rights of creditors.
Section 72A.3090 - Lessor’s and lessee’s rights when goods become fixtures.
Section 72A.3095 - Fixture filing recorded and indexed as mortgage.
Section 72A.3100 - Lessor’s and lessee’s rights when goods become accessions.
Section 72A.4010 - Insecurity; adequate assurance of performance.
Section 72A.4020 - Anticipatory repudiation.
Section 72A.4030 - Retraction of anticipatory repudiation.
Section 72A.4040 - Substituted performance.
Section 72A.4050 - Excused performance.
Section 72A.4060 - Procedure on excused performance.
Section 72A.4070 - Irrevocable promises; finance leases.
Section 72A.5010 - Default; procedure.
Section 72A.5030 - Modification or impairment of rights and remedies.
Section 72A.5040 - Liquidation of damages.
Section 72A.5060 - Statute of limitations.
Section 72A.5070 - Proof of market rent; time and place.
Section 72A.5080 - Lessee’s remedies.
Section 72A.5090 - Lessee’s rights on improper delivery; rightful rejection.
Section 72A.5100 - Installment lease contracts; rejection and default.
Section 72A.5110 - Merchant lessee’s duties as to rightfully rejected goods.
Section 72A.5120 - Lessee’s duties as to rightfully rejected goods.
Section 72A.5130 - Cure by lessor of improper tender or delivery; replacement.
Section 72A.5140 - Waiver of lessee’s objections.
Section 72A.5150 - Acceptance of goods.
Section 72A.5170 - Revocation of acceptance of goods.
Section 72A.5180 - Cover; substitute goods.
Section 72A.5200 - Lessee’s incidental and consequential damages.
Section 72A.5210 - Lessee’s right to specific performance or replevin.
Section 72A.5220 - Lessee’s right to goods on lessor’s insolvency.
Section 72A.5230 - Lessor’s remedies.
Section 72A.5240 - Lessor’s right to identify goods to lease contract.
Section 72A.5250 - Lessor’s right to possession of goods.
Section 72A.5260 - Lessor’s stoppage of delivery in transit or otherwise.
Section 72A.5270 - Lessor’s rights to dispose of goods.
Section 72A.5280 - Lessor’s damages for default.
Section 72A.5290 - Lessor’s action for the rent.
Section 72A.5310 - Standing to sue third parties for injury to goods.