Oregon Statutes 72.3260 – Sale on approval and sale or return; rights of creditors
(1) Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is:
Terms Used In Oregon Statutes 72.3260
- Buyer: means a person who buys or contracts to buy goods. See Oregon Statutes 72.1030
- Contract: A legal written agreement that becomes binding when signed.
- Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Oregon Statutes 72.1060
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Statute: A law passed by a legislature.
(a) A ‘sale on approval’ if the goods are delivered primarily for use; and
(b) A ‘sale or return’ if the goods are delivered primarily for resale.
(2) Goods held on approval are not subject to the claims of the buyer’s creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer’s possession.
(3) Any ‘or return’ term of a contract for sale is to be treated as a separate contract for sale within ORS § 72.2010 relating to the statute of frauds and as contradicting the sale aspect of the contract within the provisions of ORS § 72.2020 on parole or extrinsic evidence. [1961 c.726 § 72.3260; 1967 c.395 § 1; 1993 c.756 § 1; 2001 c.445 § 134]