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 to legally enforceable.
- Further, contracts for the 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 agreement.
- The breach of contract may be compensated in the form of the value of general damages and incidental damages.
- Incidental costs are subsequent damages arising from the non-performance of the contract.