Oregon Statutes 83.885 – Sale of motor vehicles, personal property or services for business or commercial purposes as time sale rather than loan
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A retail installment contract for the sale of motor vehicles, other personal property or services purchased primarily for business or commercial purposes, which discloses both a cash price and a deferred payment or time price, constitutes a bona fide time sale rather than a loan or use of money, notwithstanding that the contract is intended to be transferred, or is transferred, to a holder pursuant to a business relationship however characterized. [1977 c.274 § 6]
Terms Used In Oregon Statutes 83.885
- Contract: A legal written agreement that becomes binding when signed.
- Personal property: All property that is not real property.