Oregon Statutes 72.1020 – Scope; certain security and other transactions excluded from chapter
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Unless the context otherwise requires, this chapter applies to transactions in goods; they do not apply to any transaction which although in the form of an unconditional contract to sell or present sale is intended to operate only as a security transaction nor does this chapter impair or repeal any statute regulating sales to consumers, farmers or other specified classes of buyers. [1961 c.726 § 72.1020]
Terms Used In Oregon Statutes 72.1020
- Contract: A legal written agreement that becomes binding when signed.
- present sale: means a sale which is accomplished by the making of the contract. See Oregon Statutes 72.1060
- Statute: A law passed by a legislature.