Oregon Promissory Note
Generate a promissory note tailored to Oregon law. Our AI incorporates OR-specific statutory requirements, disclosure obligations, and legal standards into every document.
One-time · instant download
- Oregon statutory requirements
- AI-powered Q&A generation
- Instant PDF & DOCX
- Attorney-reviewed framework
- 30-day re-download access
Oregon Legal Requirements
Key OR statutes and obligations that apply to your promissory note.
Requirements
- Governed by Oregon UCC Article 3 (ORS Ch. 73); must be a written, signed, unconditional promise to pay a definite sum
- Consumer loans: Oregon usury cap is 9% per year or the rate agreed upon in writing (ORS §82.010); commercial loans may set any rate if agreed in writing
- Security interests in personal property perfected by UCC-1 filing with the Oregon Secretary of State
Restrictions & Limits
- Consumer usury limits apply; state the annual percentage rate (APR) clearly to comply with both Oregon law and federal TILA
- Real property mortgages must be recorded in the county where the property is located
- Oregon is a non-judicial foreclosure state for trust deeds but judicial process is required for mortgages
Official Statute References
Primary Oregon statutes governing this document type.
Oregon Promissory Note FAQ
Common questions about promissory notes under Oregon law.
What is Oregon's interest rate cap on promissory notes?
ORS §82.010 sets a general usury cap of 9% per year; parties may contractually agree to a higher rate in writing. Commercial notes between businesses are not subject to the usury cap if the rate is specified in the agreement. Always include the APR to satisfy federal Truth in Lending Act disclosures for consumer loans.
What is the statute of limitations on a promissory note in Oregon?
Oregon's statute of limitations for written contracts, including promissory notes, is 6 years (ORS §12.080). The clock begins running from the date the payment is due and unpaid. A partial payment or written acknowledgment of the debt can restart the limitations period.
Ready to Create Your Oregon Promissory Note?
Our AI generates a OR-compliant promissory note in minutes — incorporating the statutory requirements above into every clause.
Promissory Note by State
Laws vary significantly by state. Find the right form for your location.
Disclaimer: LegalLawDocs.com provides self-help legal documents for informational purposes only. The documents and information on this site do not constitute legal advice and are not a substitute for consultation with a licensed attorney. Laws vary by state and change frequently — review your document with a qualified professional before relying on it.