Chapter 72 of Oregon’s Revised Statutes governs the provisions of contract law in the state.
- Under the statute, a contract should have an offer, acceptance, mutual consent and consideration in order to legally enforceable. Further, contracts for sale of goods above the value of $500 should be in writing.
- A breach of contract in Oregon is said to have taken place when either of the parties fails to fulfill his promise under the contract.
- The breach of contract may be compensated in the form of value of general damages and incidental damages. Incidental damages are subsequent damages arising from the non-performance of the contract.