(2) If a warehouse in good faith believes that goods are about to deteriorate or decline in value to less than the amount of its lien within the time provided in subsection (1) of this section and ORS 77.2100, the warehouse may specify in the notice given under subsection (1) of this section any reasonable shorter time for removal of the goods and, if the goods are not removed, may sell them at public sale held not less than one week after a single advertisement or posting.
(3) If as a result of a quality or condition of the goods of which the warehouse did not have notice at the time of deposit the goods are a hazard to other property, the warehouse facilities or other persons, the warehouse may sell the goods at public or private sale without advertisement or posting on reasonable notification to all persons known to claim an interest in the goods. If the warehouse, after a reasonable effort, is unable to sell the goods it may dispose of them in any lawful manner and does not incur liability by reason of that disposition.
(4) A warehouse shall deliver the goods to any person entitled to them under this chapter upon due demand made at any time before sale or other disposition under this section.
(5) A warehouse may satisfy its lien from the proceeds of any sale or disposition under this section but shall hold the balance for delivery on the demand of any person to which the warehouse would have been bound to deliver the goods. [1961 c.726 §77.2060; 2009 c.181 §60]
Structure 2021 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 077 - Warehouse Receipts, Bills of Lading and Other Documents of Title
Section 77.1020 - Definitions and index of definitions.
Section 77.1030 - Relation of chapter to treaty or statute.
Section 77.1040 - Negotiable and nonnegotiable document of title.
Section 77.1050 - Reissuance in alternative medium.
Section 77.1060 - Control of electronic document of title.
Section 77.2010 - Person that may issue a warehouse receipt; storage under bond.
Section 77.2020 - Form of warehouse receipt; effect of omission.
Section 77.2030 - Liability for nonreceipt or misdescription.
Section 77.2040 - Duty of care; contractual limitation of warehouse’s liability.
Section 77.2060 - Termination of storage at warehouse’s option.
Section 77.2070 - Goods must be kept separate; fungible goods.
Section 77.2090 - Lien of warehouse.
Section 77.2100 - Enforcement of warehouse’s lien.
Section 77.3020 - Through bills of lading and similar documents of title.
Section 77.3030 - Diversion; reconsignment; change of instructions.
Section 77.3040 - Bills of lading in a set.
Section 77.3050 - Destination bills.
Section 77.3070 - Lien of carrier.
Section 77.3080 - Enforcement of carrier’s lien.
Section 77.3090 - Duty of care; contractual limitation of carrier’s liability.
Section 77.4010 - Irregularities in issue of receipt or bill or conduct of issuer.
Section 77.4030 - Obligation of bailee to deliver; excuse.
Section 77.4040 - No liability for good faith delivery pursuant to document of title.
Section 77.5010 - Form of negotiation and requirements of due negotiation.
Section 77.5020 - Rights acquired by due negotiation.
Section 77.5030 - Document of title to goods defeated in certain cases.
Section 77.5070 - Warranties on negotiation or delivery of document of title.
Section 77.5090 - Adequate compliance with commercial contract.
Section 77.6010 - Lost, stolen or destroyed documents of title.