73.0101Short title.This chapter may be cited as Uniform Commercial Code–Negotiable Instruments. [1993c.545 §4]
73.0102Application of chapter. (1) This chapter applies to negotiable instruments.This chapter does not apply to money, to payment orders governed by ORS chapter74, or to securities governed by ORS chapter 78.
(2)If there is conflict between this chapter and ORS chapter 74 or 79, ORS chapter74 or 79 shall govern.
(3)Regulations of the Board of Governors of the Federal Reserve System andoperating circulars of the Federal Reserve Banks supersede any inconsistentprovision of this chapter to the extent of the inconsistency. [1993 c.545 §5;1995 c.79 §24]
73.0103Definitions.(1) As used in this chapter:
(a)“Acceptor” means a drawee who has accepted a draft.
(b)“Drawee” means a person ordered in a draft to make payment.
(c)“Drawer” means a person who signs or is identified in a draft as a personordering payment.
(d)“Maker” means a person who signs or is identified in a note as a personundertaking to pay.
(e)“Order” means a written instruction to pay money signed by the person givingthe instruction. The instruction may be addressed to any person, including theperson giving the instruction, or to one or more persons jointly or in thealternative but not in succession. An authorization to pay is not an orderunless the person authorized to pay is also instructed to pay.
(f)“Ordinary care” in the case of a person engaged in business means observance ofreasonable commercial standards, prevailing in the area in which the person islocated, with respect to the business in which the person is engaged. In thecase of a bank that takes an instrument for processing for collection orpayment by automated means, reasonable commercial standards do not require thebank to examine the instrument if the failure to examine does not violate thebank’s prescribed procedures and the bank’s procedures do not vary unreasonablyfrom general banking usage not disapproved under this chapter or ORS chapter74.
(g)“Party” means a party to an instrument.
(h)“Promise” means a written undertaking to pay money signed by the personundertaking to pay. An acknowledgment of an obligation by the obligor is not apromise unless the obligor also undertakes to pay the obligation.
(i)“Prove” with respect to a fact means to meet the burden of establishing thefact as defined in ORS 71.2010 (2)(h).
(j)“Remitter” means a person who purchases an instrument from the issuer if theinstrument is payable to an identified person other than the purchaser.
(2)Other definitions applying to this chapter and the sections in which theyappear are:
73.0101Short title.This chapter may be cited as Uniform Commercial Code–Negotiable Instruments. [1993c.545 §4]
73.0102Application of chapter. (1) This chapter applies to negotiable instruments.This chapter does not apply to money, to payment orders governed by ORS chapter74, or to securities governed by ORS chapter 78.
(2)If there is conflict between this chapter and ORS chapter 74 or 79, ORS chapter74 or 79 shall govern.
(3)Regulations of the Board of Governors of the Federal Reserve System andoperating circulars of the Federal Reserve Banks supersede any inconsistentprovision of this chapter to the extent of the inconsistency. [1993 c.545 §5;1995 c.79 §24]
73.0103Definitions.(1) As used in this chapter:
(a)“Acceptor” means a drawee who has accepted a draft.
(b)“Drawee” means a person ordered in a draft to make payment.
(c)“Drawer” means a person who signs or is identified in a draft as a personordering payment.
(d)“Maker” means a person who signs or is identified in a note as a personundertaking to pay.
(e)“Order” means a written instruction to pay money signed by the person givingthe instruction. The instruction may be addressed to any person, including theperson giving the instruction, or to one or more persons jointly or in thealternative but not in succession. An authorization to pay is not an orderunless the person authorized to pay is also instructed to pay.
(f)“Ordinary care” in the case of a person engaged in business means observance ofreasonable commercial standards, prevailing in the area in which the person islocated, with respect to the business in which the person is engaged. In thecase of a bank that takes an instrument for processing for collection orpayment by automated means, reasonable commercial standards do not require thebank to examine the instrument if the failure to examine does not violate thebank’s prescribed procedures and the bank’s procedures do not vary unreasonablyfrom general banking usage not disapproved under this chapter or ORS chapter74.
(g)“Party” means a party to an instrument.
(h)“Promise” means a written undertaking to pay money signed by the personundertaking to pay. An acknowledgment of an obligation by the obligor is not apromise unless the obligor also undertakes to pay the obligation.
(i)“Prove” with respect to a fact means to meet the burden of establishing thefact as defined in ORS 71.2010 (2)(h).
(j)“Remitter” means a person who purchases an instrument from the issuer if theinstrument is payable to an identified person other than the purchaser.
(2)Other definitions applying to this chapter and the sections in which theyappear are:
“Acceptance” ORS73.0409
“Accommodatedparty” ORS 73.0419
“Accommodationparty” ORS 73.0419
“Alteration” ORS73.0407
“Anomalousindorsement” ORS 73.0205
“Blankindorsement” ORS 73.0205
“Cashier’scheck” ORS 73.0104
“Certificateof deposit” ORS 73.0104
“Certifiedcheck” ORS 73.0409
“Check” ORS73.0104
“Consideration” ORS73.0303
“Demanddraft” ORS73.0104
“Draft” ORS73.0104
“Holderin due course” ORS 73.0302
“Incompleteinstrument” ORS 73.0115
“Indorsement” ORS73.0204
“Indorser” ORS73.0204
“Instrument” ORS73.0104
“Issue” ORS73.0105
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73.0101Short title.This chapter may be cited as Uniform Commercial Code–Negotiable Instruments. [1993c.545 §4]
73.0102Application of chapter. (1) This chapter applies to negotiable instruments.This chapter does not apply to money, to payment orders governed by ORS chapter74, or to securities governed by ORS chapter 78.
(2)If there is conflict between this chapter and ORS chapter 74 or 79, ORS chapter74 or 79 shall govern.
(3)Regulations of the Board of Governors of the Federal Reserve System andoperating circulars of the Federal Reserve Banks supersede any inconsistentprovision of this chapter to the extent of the inconsistency. [1993 c.545 §5;1995 c.79 §24]
73.0103Definitions.(1) As used in this chapter:
(a)“Acceptor” means a drawee who has accepted a draft.
(b)“Drawee” means a person ordered in a draft to make payment.
(c)“Drawer” means a person who signs or is identified in a draft as a personordering payment.
(d)“Maker” means a person who signs or is identified in a note as a personundertaking to pay.
(e)“Order” means a written instruction to pay money signed by the person givingthe instruction. The instruction may be addressed to any person, including theperson giving the instruction, or to one or more persons jointly or in thealternative but not in succession. An authorization to pay is not an orderunless the person authorized to pay is also instructed to pay.
(f)“Ordinary care” in the case of a person engaged in business means observance ofreasonable commercial standards, prevailing in the area in which the person islocated, with respect to the business in which the person is engaged. In thecase of a bank that takes an instrument for processing for collection orpayment by automated means, reasonable commercial standards do not require thebank to examine the instrument if the failure to examine does not violate thebank’s prescribed procedures and the bank’s procedures do not vary unreasonablyfrom general banking usage not disapproved under this chapter or ORS chapter74.
(g)“Party” means a party to an instrument.
(h)“Promise” means a written undertaking to pay money signed by the personundertaking to pay. An acknowledgment of an obligation by the obligor is not apromise unless the obligor also undertakes to pay the obligation.
(i)“Prove” with respect to a fact means to meet the burden of establishing thefact as defined in ORS 71.2010 (2)(h).
(j)“Remitter” means a person who purchases an instrument from the issuer if theinstrument is payable to an identified person other than the purchaser.
(2)Other definitions applying to this chapter and the sections in which theyappear are:
