The issuer of a note or cashier’s check or other draft drawn on the drawer is obliged to pay the instrument according to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder, or if the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in ORS 73.0115 and 73.0407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under ORS 73.0115. [1993 c.545 §53]
Section: Previous 73.0405 73.0406 73.0407 73.0408 73.0409 73.0410 73.0411 73.0412 73.0413 73.0414 73.0415 73.0416 73.0417 73.0418 73.0419 NextLast modified: August 7, 2008