Oregon Statutes 79.0603 – UCC 9-603. Agreement on standards concerning rights and duties
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(1) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in ORS § 79.0602 if the standards are not manifestly unreasonable.
Terms Used In Oregon Statutes 79.0603
- Obligor: means a person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral:
(i) Owes payment or other performance of the obligation;
(ii) Has provided property other than the collateral to secure payment or other performance of the obligation; or
(iii) Is otherwise accountable in whole or in part for payment or other performance of the obligation. See Oregon Statutes 79.0102
(2) Subsection (1) of this section does not apply to the duty under ORS § 79.0609 to refrain from breaching the peace. [2001 c.445 § 101]