Oregon Statutes 78.3050 – Instruction
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(1) If an instruction has been originated by an appropriate person but is incomplete in any other respect, any person may complete it as authorized and the issuer may rely on it as completed, even though it has been completed incorrectly.
Terms Used In Oregon Statutes 78.3050
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) Unless otherwise agreed, a person initiating an instruction assumes only the obligations imposed by ORS § 78.1080 and not an obligation that the security will be honored by the issuer. [1961 c.726 § 78.3050; 1985 c.676 § 78.3050; 1995 c.328 § 31]