Oregon Statutes 73.0410 – Acceptance varying draft
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(1) If the terms of a drawee‘s acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as dishonored. In that case, the drawee may cancel the acceptance.
Terms Used In Oregon Statutes 73.0410
- Drawee: means a person ordered in a draft to make payment. See Oregon Statutes 73.0103
- Drawer: means a person who signs or is identified in a draft as a person ordering payment. See Oregon Statutes 73.0103
- 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.
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(2) The terms of a draft are not varied by an acceptance to pay at a particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at that bank or place.
(3) If the holder assents to an acceptance varying the terms of a draft, the obligation of each drawer and indorser that does not expressly assent to the acceptance is discharged. [1993 c.545 § 51]