Oregon Statutes 73.0418 – Payment or acceptance by mistake
(1) Except as provided in subsection (3) of this section, if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that payment of the draft had not been stopped pursuant to ORS § 73.0403 or the signature of the drawer of the draft was authorized, the drawee may recover the amount of the draft from the person to whom or for whose benefit payment was made or, in the case of acceptance, may revoke the acceptance. Rights of the drawee under this subsection are not affected by failure of the drawee to exercise ordinary care in paying or accepting the draft.
Terms Used In Oregon Statutes 73.0418
- Acceptor: means a drawee who has accepted a draft. See Oregon Statutes 73.0103
- 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
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
(2) Except as provided in subsection (3) of this section, if an instrument has been paid or accepted by mistake and the case is not covered by subsection (1) of this section, the person paying or accepting may, to the extent permitted by the law governing mistake and restitution:
(a) Recover the payment from the person to whom or for whose benefit payment was made; or
(b) In the case of acceptance, revoke the acceptance.
(3) The remedies provided by subsection (1) or (2) of this section may not be asserted against a person who took the instrument in good faith and for value or for collection or who in good faith changed position in reliance on the payment or acceptance. This subsection does not limit remedies provided by ORS § 73.0417 or 74.4070.
(4) Notwithstanding ORS § 74.2150, if an instrument is paid or accepted by mistake and the payor or acceptor recovers payment or revokes acceptance under subsection (1) or (2) of this section, the instrument is deemed not to have been paid or accepted and is treated as dishonored, and the person from whom payment is recovered has rights as a person entitled to enforce the dishonored instrument. [1993 c.545 § 59]