Oregon Code § 83.650·Enacted ·Last updated March 01, 2026
Statute Text
Effect
of negotiation of notes on rights against motor vehicle dealer.
(1) No retail installment contract
shall require or entail the execution, by the buyer, of any note or series of
notes, which when separately negotiated will cut off as against third parties
any right of action or defense which the buyer may have against the motor
vehicle dealer.
(2) The rights of
a holder in due course of any negotiable instrument executed contrary to
subsection (1) of this section are not impaired by reason of the violation of
subsection (1) of this section, but the buyer may bring an action against the
motor vehicle dealer for the recovery of any loss or expense incurred by reason
of the violation of subsection (1) of this section. The buyers action may be
joined with any other right of action the buyer has against the motor vehicle
dealer arising out of the installment sale. The court may award reasonable
attorney fees to the prevailing party in an action under this section. [1957
c.625 §9; 1995 c.618 §47; 2001 c.117 §11]
Plain English Explanation
This Oregon statute addresses Effect
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 83.650
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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