§ 3-103. Definitions
Oklahoma Statutes AnnotatedTitle 12A. Commercial Code
12A Okl.St.Ann. § 3-103
§ 3-103. Definitions
(a) In this article:
(6) “Order” means a written instruction to pay money signed by the person giving the instruction. The instruction may be addressed to any person, including the person giving the instruction, or to one or more persons jointly or in the alternative but not in succession. An authorization to pay is not an order unless the person authorized to pay is also instructed to pay;
(7) “Ordinary care” in the case of a person engaged in business means observance of reasonable commercial standards, prevailing in the area in which the person is located, with respect to the business in which the person is engaged. In the case of a bank that takes an instrument for processing for collection or payment by automated means, reasonable commercial standards do not require the bank to examine the instrument if the failure to examine does not violate the bank's prescribed procedures and the bank's procedures do not vary unreasonably from general banking usage not disapproved by this article or Article 4 of this title;
(14) “Secondary obligor”, with respect to an instrument, means (i) an indorser or an accommodation party, (ii) a drawer having the obligation described in subsection (d) of Section 3-414 of this title, or (iii) any other party to the instrument that has recourse against another party to the instrument pursuant to subsection (b) of Section 3-116 of this title.
“Acceptance” | Section 3-409 | |
“Accommodated party” | Section 3-419 | |
“Accommodation party” | Section 3-419 | |
“Account” | Section 4-104 | |
“Alteration” | Section 3-407 | |
“Anomalous indorsement” | Section 3-205 | |
“Blank indorsement” | Section 3-205 | |
“Cashier's check” | Section 3-104 | |
“Certificate of deposit” | Section 3-104 | |
“Certified check” | Section 3-409 | |
“Check” | Section 3-104 | |
“Consideration” | Section 3-303 | |
“Draft” | Section 3-104 | |
“Holder in due course” | Section 3-302 | |
“Incomplete instrument” | Section 3-115 | |
“Indorsement” | Section 3-204 | |
“Indorser” | Section 3-204 | |
“Instrument” | Section 3-104 | |
“Issue” | Section 3-105 | |
“Issuer” | Section 3-105 | |
“Negotiable instrument” | Section 3-104 | |
“Negotiation” | Section 3-201 | |
“Note” | Section 3-104 | |
“Payable at a definite time” | Section 3-108 | |
“Payable on demand” | Section 3-108 | |
“Payable to bearer” | Section 3-109 | |
“Payable to order” | Section 3-109 | |
“Payment” | Section 3-602 | |
“Person entitled to enforce” | Section 3-301 | |
“Presentment” | Section 3-501 | |
“Reacquisition” | Section 3-207 | |
“Special indorsement” | Section 3-205 | |
“Teller's check” | Section 3-104 | |
“Transfer of instrument” | Section 3-203 | |
“Traveler's check” | Section 3-104 | |
“Value” | Section 3-303 |
“Banking day” | Section 4-104 | |
“Clearing house” | Section 4-104 | |
“Collecting bank” | Section 4-105 | |
“Depositary bank” | Section 4-105 | |
“Documentary draft” | Section 4-104 | |
“Intermediary bank” | Section 4-105 | |
“Item” | Section 4-104 | |
“Payor bank” | Section 4-105 | |
“Suspends payments” | Section 4-104 |
Credits
Laws 1991, c. 117, § 28, eff. Jan. 1, 1992; Laws 2009, c. 208, § 2, eff. Nov. 1, 2009.
12A Okl. St. Ann. § 3-103, OK ST T. 12A § 3-103
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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