ORS 73.0103
Definitions


(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 person ordering payment.

(d)

“Maker” means a person who signs or is identified in a note as a person undertaking to pay.

(e)

“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.

(f)

“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 under this chapter or ORS chapter 74.

(g)

“Party” means a party to an instrument.

(h)

“Promise” means a written undertaking to pay money signed by the person undertaking to pay. An acknowledgment of an obligation by the obligor is not a promise unless the obligor also undertakes to pay the obligation.

(i)

“Prove” with respect to a fact means to meet the burden of establishing the fact as defined in ORS 71.2010 (General definitions) (2)(h).

(j)

“Remitter” means a person who purchases an instrument from the issuer if the instrument is payable to an identified person other than the purchaser.

(2)

Other definitions applying to this chapter and the sections in which they appear are:
“Acceptance” ORS 73.0409 (Acceptance of draft)
“Accommodated party” ORS 73.0419 (Instruments signed for accommodation)
“Accommodation party” ORS 73.0419 (Instruments signed for accommodation)
“Alteration” ORS 73.0407 (Alteration)
“Anomalous indorsement” ORS 73.0205 (Special indorsement)
“Blank indorsement” ORS 73.0205 (Special indorsement)
“Cashier’s check” ORS 73.0104 (Negotiable instrument)
“Certificate of deposit” ORS 73.0104 (Negotiable instrument)
“Certified check” ORS 73.0409 (Acceptance of draft)
“Check” ORS 73.0104 (Negotiable instrument)
“Consideration” ORS 73.0303 (Value and consideration)
“Demand draft” ORS 73.0104 (Negotiable instrument)
“Draft” ORS 73.0104 (Negotiable instrument)
“Holder in due course” ORS 73.0302 (Holder in due course)
“Incomplete instrument” ORS 73.0115 (Incomplete instrument)
“Indorsement” ORS 73.0204 (Indorsement)
“Indorser” ORS 73.0204 (Indorsement)
“Instrument” ORS 73.0104 (Negotiable instrument)
“Issue” ORS 73.0105 (Issue of instrument)
“Issuer” ORS 73.0105 (Issue of instrument)
“Negotiable instrument” ORS 73.0104 (Negotiable instrument)
“Negotiation” ORS 73.0201 (Negotiation)
“Note” ORS 73.0104 (Negotiable instrument)
“Payable at a definite time” ORS 73.0108 (Payable on demand or at definite time)
“Payable on demand” ORS 73.0108 (Payable on demand or at definite time)
“Payable to bearer” ORS 73.0109 (Payable to bearer or to order)
“Payable to order” ORS 73.0109 (Payable to bearer or to order)
“Payment” ORS 73.0602 (Payment)
“Person entitled to enforce” ORS 73.0301 (Person entitled to enforce instrument)
“Presentment” ORS 73.0501 (Presentment)
“Reacquisition” ORS 73.0207 (Reacquisition)
“Special indorsement” ORS 73.0205 (Special indorsement)
“Teller’s check” ORS 73.0104 (Negotiable instrument)
“Transfer of instrument” ORS 73.0203 (Transfer of instrument)
“Traveler’s check” ORS 73.0104 (Negotiable instrument)
“Value” ORS 73.0303 (Value and consideration)

(3)

The following definitions in ORS chapter 74 apply to this chapter:
“Bank” ORS 74.1050 (“Bank”)
“Banking day” ORS 74.1040 (Definitions and index of definitions)
“Clearing house” ORS 74.1040 (Definitions and index of definitions)
“Collecting bank” ORS 74.1050 (“Bank”)
“Depositary bank” ORS 74.1050 (“Bank”)
“Documentary draft” ORS 74.1040 (Definitions and index of definitions)
“Intermediary bank” ORS 74.1050 (“Bank”)
“Item” ORS 74.1040 (Definitions and index of definitions)
“Payor bank” ORS 74.1050 (“Bank”)
“Suspends payments” ORS 74.1040 (Definitions and index of definitions)

(4)

In addition, ORS chapter 71 contains general definitions and principles of construction and interpretation applicable throughout this chapter. [1993 c.545 §6; 1997 c.822 §1; 2009 c.181 §44]

Source: Section 73.0103 — Definitions, https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html.

73.0101
Short title
73.0102
Application of chapter
73.0103
Definitions
73.0104
Negotiable instrument
73.0105
Issue of instrument
73.0106
Unconditional promise or order
73.0107
Instrument payable in foreign money
73.0108
Payable on demand or at definite time
73.0109
Payable to bearer or to order
73.0110
Identification of person to whom instrument is payable
73.0111
Place of payment
73.0112
Interest
73.0113
Date of instrument
73.0114
Contradictory terms of instrument
73.0115
Incomplete instrument
73.0116
Joint and several liability
73.0117
Other agreements affecting instrument
73.0118
Statute of limitations
73.0119
Notice of right to defend action
73.0201
Negotiation
73.0202
Negotiation subject to rescission
73.0203
Transfer of instrument
73.0204
Indorsement
73.0205
Special indorsement
73.0206
Restrictive indorsement
73.0207
Reacquisition
73.0301
Person entitled to enforce instrument
73.0302
Holder in due course
73.0303
Value and consideration
73.0304
Overdue instrument
73.0305
Defenses and claims in recoupment
73.0306
Claims to an instrument
73.0307
Notice of breach of fiduciary duty
73.0308
Proof of signatures and status as holder in due course
73.0309
Enforcement of lost, destroyed or stolen instrument
73.0310
Effect of instrument on obligation for which taken
73.0311
Accord and satisfaction
73.0312
Lost, destroyed or stolen cashier’s check, teller’s check or certified check
73.0401
Signature
73.0402
Signature by representative
73.0403
Unauthorized signature
73.0404
Impostors
73.0405
Employer’s responsibility for fraudulent indorsement by employee
73.0406
Negligence contributing to forged signature or alteration of instrument
73.0407
Alteration
73.0408
Drawee not liable on unaccepted draft
73.0409
Acceptance of draft
73.0410
Acceptance varying draft
73.0411
Refusal to pay cashier’s checks, teller’s checks and certified checks
73.0412
Obligation of issuer of note or cashier’s check
73.0413
Obligation of acceptor
73.0414
Obligation of drawer
73.0415
Obligation of indorser
73.0416
Transfer warranties
73.0417
Presentment warranties
73.0418
Payment or acceptance by mistake
73.0419
Instruments signed for accommodation
73.0420
Conversion of instrument
73.0501
Presentment
73.0502
Dishonor
73.0503
Notice of dishonor
73.0504
Excused presentment and notice of dishonor
73.0505
Evidence of dishonor
73.0601
Discharge and effect of discharge
73.0602
Payment
73.0603
Tender of payment
73.0604
Discharge by cancellation or renunciation
73.0605
Discharge of indorsers and accommodation parties
Green check means up to date. Up to date