reglab/housing_qa huggingface dataset:
12A OK Stat § 12A-3-416 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-3-416. Transfer Warranties.

|TRANSFER WARRANTIES |(a) A person who transfers an instrument for consideration warrants to the transferee and, if the transfer is by indorsement, to any subsequent transferee that:(1)The warrantor is a person entitled to enforce the instrument;(2)All signatures on the instrument are authentic and authorized;(3)The instrument has not been altered;(4)The instrument is not subject to a defense or claim in recoupment of any party which can be asserted against the warrantor; and(5)The warrantor has no knowledge of any insolvency proceeding commenced with respect to the maker or acceptor or, in the case of an unaccepted draft, the drawer.(b) A person to whom the warranties under subsection (a) of this section are made and who took the instrument in good faith may recover from the warrantor as damages for breach of warranty an amount equal to the loss suffered as a result of the breach, but not more than the amount of the instrument plus expenses and loss of interest incurred as a result of the breach.(c) The warranties stated in subsection (a) of this section cannot be disclaimed with respect to checks. Unless notice of a claim for breach of warranty is given to the warrantor within thirty (30) days after the claimant has reason to know of the breach and the identity of the warrantor, the liability of the warrantor under subsection (b) of this section is discharged to the extent of any loss caused by the delay in giving notice of the claim.(d) A claim for relief for breach of warranty under this section accrues when the claimant has reason to know of the breach.Laws 1961, p. 112, § 3-416; Laws 1991, c. 117, § 79, eff. Jan. 1, 1992.
12A OK Stat § 12A-3-418 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-3-418. Payment or Acceptance by Mistake.

|PAYMENT OR ACCEPTANCE BY MISTAKE |(a) Except as provided in subsection (c) of this section, if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that (i) payment of the draft had not been stopped pursuant to Section 4-403 of this title or (ii) 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.(b) Except as provided in subsection (c) of this section, if an instrument has been paid or accepted by mistake and the case is not covered by subsection (a) of this section, the person paying or accepting may, to the extent permitted by the law governing mistake and restitution, (i) recover the payment from the person to whom or for whose benefit payment was made or (ii) in the case of acceptance, may revoke the acceptance.(c) The remedies provided by subsection (a) or (b) of this section may not be asserted against a person who took the instrument in good faith and for value or who in good faith changed position in reliance on the payment or acceptance. This subsection does not limit remedies provided by Section 3-417 or 4-407 of this title.(d) Notwithstanding Section 4-215 of this title, if an instrument is paid or accepted by mistake and the payor or acceptor recovers payment or revokes acceptance under subsection (a) or (b) 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.Laws 1961, p. 114, § 3-418; Laws 1991, c. 117, § 81, eff. Jan. 1, 1992.
12A OK Stat § 12A-3-420 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-3-420. Conversion of Instrument.

|CONVERSION OF INSTRUMENT |(a) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if it is taken by transfer, other than a negotiation, from a person not entitled to enforce the instrument or a bank makes or obtains payment with respect to the instrument for a person not entitled to enforce the instrument or receive payment. An action for conversion of an instrument may not be brought by (i) the issuer or acceptor of the instrument or (ii) a payee or indorsee who did not receive delivery of the instrument either directly or through delivery to an agent or a co-payee.(b) In an action under subsection (a) of this section, the measure of liability is presumed to be the amount payable on the instrument, but recovery may not exceed the amount of the plaintiff's interest in the instrument.(c) A representative, other than a depositary bank, who has in good faith dealt with an instrument or its proceeds on behalf of one who was not the person entitled to enforce the instrument is not liable in conversion to that person beyond the amount of any proceeds that it has not paid out.Added by Laws 1991, c. 117, § 83, eff. Jan. 1, 1992.
12A OK Stat § 12A-3-501 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-3-501. Presentment.

|PRESENTMENT |(a) "Presentment" means a demand made by or on behalf of a person entitled to enforce an instrument (i) to pay the instrument made to the drawee or a party obliged to pay the instrument or, in the case of a note or accepted draft payable at a bank, to the bank, or (ii) to accept a draft made to the drawee.(b) The following rules are subject to Article 4 of this title, agreement of the parties, and clearing-house rules and the like:(1)Presentment may be made at the place of payment of the instrument and must be made at the place of payment if the instrument is payable at a bank in the United States; may be made by any commercially reasonable means, including an oral, written, or electronic communication; is effective when the demand for payment or acceptance is received by the person to whom presentment is made; and is effective if made to any one of two or more makers, acceptors, drawees, or other payors;(2)Upon demand of the person to whom presentment is made, the person making presentment must (i) exhibit the instrument, (ii) give reasonable identification and, if presentment is made on behalf of another person, reasonable evidence of authority to do so, and (iii) sign a receipt on the instrument for any payment made or surrender the instrument if full payment is made;(3)Without dishonoring the instrument, the party to whom presentment is made may (i) return the instrument for lack of a necessary indorsement, or (ii) refuse payment or acceptance for failure of the presentment to comply with the terms of the instrument, an agreement of the parties, or other applicable law or rule; and(4)The party to whom presentment is made may treat presentment as occurring on the next business day after the day of presentment if the party to whom presentment is made has established a cutoff hour not earlier than 2 o'clock p.m. for the receipt and processing of instruments presented for payment or acceptance and presentment is made after the cutoff hour.Laws 1961, p. 114, § 3-501; Laws 1970, c. 246, § 2; Laws 1991, c. 117, § 84, eff. Jan. 1, 1992.
12A OK Stat § 12A-3-503 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-3-503. Notice of Dishonor.

|NOTICE OF DISHONOR |(a) The obligation of an indorser stated in subsection (a) of Section 3-415 of this title and the obligation of a drawer stated in subsection (d) of Section 3-414 of this title may not be enforced unless (i) the indorsers or drawer is given notice of dishonor of the instrument complying with this section or (ii) notice of dishonor is excused under subsection (b) of Section 3-504 of this title.(b) Notice of dishonor may be given by any person; may be given by any commercially reasonable means, including an oral, written, or electronic communication; and is sufficient if it reasonably identifies the instrument and indicates that the instrument has been dishonored or has not been paid or accepted. Return of an instrument given to a bank for collection is sufficient notice of dishonor.(c) Subject to subsection (c) of Section 3-504 of this title, with respect to an instrument taken for collection by a collecting bank, notice of dishonor must be given (i) by the bank before midnight of the next banking day following the banking day on which the bank receives notice of dishonor of the instrument, or (ii) by any other person within thirty (30) days following the day on which the person receives notice of dishonor. With respect to any other instrument, notice of dishonor must be given within thirty (30) days following the day on which dishonor occurs.Laws 1961, p. 115, § 3-503; Laws 1991, c. 117, § 86, eff. Jan. 1, 1992.
12A OK Stat § 12A-3-504 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-3-504. Excused Presentment and Notice of Dishonor.

|EXCUSED PRESENTMENT AND NOTICE OF DISHONOR |(a) Presentment for payment or acceptance of an instrument is excused if (i) the person entitled to present the instrument cannot with reasonable diligence make presentment, (ii) the maker or acceptor has repudiated an obligation to pay the instrument or is dead or in insolvency proceedings, (iii) by the terms of the instrument presentment is not necessary to enforce the obligation of indorsers or the drawer, (iv) the drawer or indorser whose obligation is being enforced has waived presentment or otherwise has no reason to expect or right to require that the instrument be paid or accepted, or (v) the drawer instructed the drawee not to pay or accept the draft or the drawee was not obligated to the drawer to pay the draft.(b) Notice of dishonor is excused if (i) by the terms of the instrument notice of dishonor is not necessary to enforce the obligation of a party to pay the instrument, or (ii) the party whose obligation is being enforced waived notice of dishonor. A waiver of presentment is also a waiver of notice of dishonor.(c) Delay in giving notice of dishonor is excused if the delay was caused by circumstances beyond the control of the person giving the notice and the person giving the notice exercised reasonable diligence after the cause of the delay ceased to operate.Laws 1961, p. 115, § 3-504; Laws 1991, c. 117, § 87, eff. Jan. 1, 1992.
12A OK Stat § 12A-3-505 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-3-505. Evidence of Dishonor.

|EVIDENCE OF DISHONOR |(a) The following are admissible as evidence and create a presumption of dishonor and of any notice of dishonor stated:(1)A document regular in form as provided in subsection (b) of this section which purports to be a protest;(2)A purported stamp or writing of the drawee, payor bank, or presenting bank on or accompanying the instrument stating that acceptance or payment has been refused unless reasons for the refusal are stated and the reasons are not consistent with dishonor; and(3)A book or record of the drawee, payor bank, or collecting bank, kept in the usual course of business which shows dishonor, even if there is no evidence of who made the entry.(b) A protest is a certificate of dishonor made by a United States consul or vice consul, or a notary public or other person authorized to administer oaths by the law of the place where dishonor occurs. It may be made upon information satisfactory to that person. The protest must identify the instrument and certify either that presentment has been made or, if not made, the reason why it was not made, and that the instrument has been dishonored by nonacceptance or nonpayment. The protest may also certify that notice of dishonor has been given to some or all parties.Laws 1961, p. 116, § 3-505; Laws 1991, c. 117, § 88, eff. Jan. 1, 1992.
12A OK Stat § 12A-3-601 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-3-601. Discharge and Effect of Discharge.

|DISCHARGE AND EFFECT OF DISCHARGE |(a) The obligation of a party to pay the instrument is discharged as stated in this article or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract.(b) Discharge of the obligation of a party is not effective against a person acquiring rights of a holder in due course of the instrument without notice of the discharge.Laws 1961, p. 118, § 3-601; Laws 1991, c. 117, § 89, eff. Jan. 1, 1992.
12A OK Stat § 12A-3-603 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-3-603. Tender of Payment.

|TENDER OF PAYMENT |(a) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract.(b) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an indorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates.(c) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged. If presentment is required with respect to an instrument and the obligor is able and ready to pay on the due date at every place of payment stated in the instrument, the obligor is deemed to have made tender of payment on the due date to the person entitled to enforce the instrument.Laws 1961, p. 118, § 3-603; Laws 1991, c. 117, § 91, eff. Jan. 1, 1992.
12A OK Stat § 12A-3-604 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-3-604. Discharge by Cancellation or Renunciation.

|DISCHARGE BY CANCELLATION OR RENUNCIATION |(a) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument (i) by an intentional voluntary act, such as surrender of the instrument to the party, destruction, mutilation, or cancellation of the instrument, cancellation or striking out of the party's signature, or the addition of words to the instrument indicating discharge, or (ii) by agreeing not to sue or otherwise renouncing rights against the party by a signed record.(b) Cancellation or striking out of an indorsement pursuant to subsection (a) of this section does not affect the status and rights of a party derived from the indorsement.(c) As used in this section, “signed”, with respect to a record that is not a writing, includes the attachment to or logical association with the record of an electronic symbol, sound, or process with the present intent to adopt or accept the record.Added by Laws 1961, p. 119, § 3-604. Amended by Laws 1991, c. 117, § 92, eff. Jan. 1, 1992; Laws 2009, c. 208, § 11, eff. Nov. 1, 2009.NOTE: Laws 2008, c. 382, § 11 was held unconstitutional by the Oklahoma Supreme Court in the case of Weddington v. Henry, 202 P.3d 143, 2008 OK 102 (2009) and repealed by Laws 2009, c. 208, § 22, eff. Nov. 1, 2009.
12A OK Stat § 12A-4-101 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-4-101. Short Title.

|SHORT TITLE |This article may be cited as Uniform Commercial Code - Bank Deposits and Collections.Laws 1961, p. 121, § 4-101; Laws 1991, c. 117, § 94, eff. Jan. 1, 1992.
12A OK Stat § 12A-4-102 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-4-102. Applicability.

|APPLICABILITY |(a) To the extent that items within this article are also within Articles 3 and 8 of this title, they are subject to those articles. If there is conflict, this article governs Article 3, but Article 8 governs this article.(b) The liability of a bank for action or nonaction with respect to any item handled by it for purposes of presentment, payment or collection is governed by the law of the place where the bank is located. In the case of action or nonaction by or at a branch or separate office of a bank, its liability is governed by the law of the place where the branch or separate office is located.Added by Laws 1961, p. 121, § 4-102. Amended by Laws 1991, c. 117, § 95, eff. Jan. 1, 1992; Laws 2009, c. 208, § 13, eff. Nov. 1, 2009.NOTE: Laws 2008, c. 382, § 13 was held unconstitutional by the Oklahoma Supreme Court in the case of Weddington v. Henry, 202 P.3d 143, 2008 OK 102 (2009) and repealed by Laws 2009, c. 208, § 22, eff. Nov. 1, 2009.
12A OK Stat § 12A-4-103 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-4-103. Variation by Agreement; Measure of Damages; Certain Action Constituting Ordinary Care.

|VARIATION BY AGREEMENT; MEASURE OF |DAMAGES; CERTAIN ACTION CONSTITUTING ORDINARY CARE(a) The effect of the provisions of this article may be varied by agreement, but the parties to the agreement cannot disclaim a bank's responsibility for its lack of good faith or failure to exercise ordinary care or limit the measure of damages for the lack or failure; however, the parties may determine by agreement the standards by which the bank's responsibility is to be measured if those standards are not manifestly unreasonable.(b) Federal Reserve regulations and operating circulars, clearing-house rules, and the like have the effect of agreements under subsection (a) of this section, whether or not specifically assented to by all parties interested in items handled.(c) Action or non-action approved by this article or pursuant to Federal Reserve regulations or operating circulars is the exercise of ordinary care and, in the absence of special instructions, action or non-action consistent with clearing-house rules and the like or with a general banking usage not disapproved by this article, is prima facie the exercise of ordinary care.(d) The specification or approval of certain procedures by this article is not disapproval of other procedures that may be reasonable under the circumstances.(e) The measure of damages for failure to exercise ordinary care in handling an item is the amount of the item reduced by an amount that could not have been realized by the exercise of ordinary care. If there is also bad faith it includes any other damages the party suffered as a proximate consequence.Laws 1961, p. 121, § 4-103; Laws 1991, c. 117, § 96, eff. Jan. 1, 1992.
12A OK Stat § 12A-4-105 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-4-105. Definitions of types of banks.

|DEFINITIONS OF TYPES OF BANKS |In this article:(1) Reserved;(2) "Depositary bank" means the first bank to take an item even though it is also the payor bank, unless the item is presented for immediate payment over the counter;(3) "Payor bank" means a bank that is the drawee of a draft;(4) "Intermediary bank" means a bank to which an item is transferred in course of collection except the depositary or payor bank;(5) "Collecting bank" means a bank handling an item for collection except the payor bank; and(6) "Presenting bank" means a bank presenting an item except a payor bank.Added by Laws 1961, p. 122, § 4-105. Amended by Laws 1991, c. 117, § 98, eff. Jan. 1, 1992; Laws 2009, c. 208, § 15, eff. Nov. 1, 2009.NOTE: Laws 2008, c. 382, § 15 was held unconstitutional by the Oklahoma Supreme Court in the case of Weddington v. Henry, 202 P.3d 143, 2008 OK 102 (2009) and repealed by Laws 2009, c. 208, § 22, eff. Nov. 1, 2009.
12A OK Stat § 12A-4-106 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-4-106. Payable through or Payable at Bank; Collecting Bank.

|PAYABLE THROUGH OR PAYABLE AT BANK; COLLECTING BANK |(a) If an item states that it is "payable through" a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank.(b) If an item states that it is "payable at" a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank.(c) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a co-drawee or a collecting bank, the bank is a collecting bank.Added by Laws 1991, c. 117, § 99, eff. Jan. 1, 1992.
12A OK Stat § 12A-4-107 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-4-107. Separate Office of Bank.

|SEPARATE OFFICE OF BANK |A branch or separate office of a bank is a separate bank for the purpose of computing the time within which and determining the place at or to which action may be taken or notice or orders must be given under this article and under Article 3 of this title.Laws 1961, p. 122, § 4-107; Laws 1991, c. 117, § 100, eff. Jan. 1, 1992.
12A OK Stat § 12A-4-108 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-4-108. Time of Receipt of Items.

|TIME OF RECEIPT OF ITEMS |(a) For the purpose of allowing time to process items, prove balances, and make the necessary entries on its books to determine its position for the day, a bank may fix an afternoon hour of 2:00 p.m. or later as a cut-off hour for the handling of money and items and the making of entries on its books.(b) An item or deposit of money received on any day after a cut-off so fixed or after the close of the banking day may be treated as being received at the opening of the next banking day.Laws 1961, p. 123, § 4-108; Laws 1991, c. 117, § 101, eff. Jan. 1, 1992.
12A OK Stat § 12A-4-109 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-4-109. Delays.

|DELAYS |(a) Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other than a bank, and with or without the approval of any person involved, may waive, modify, or extend time limits imposed or permitted by this article for a period not exceeding two (2) additional banking days without discharge of drawers or indorsers or liability to its transferor or a prior party.(b) Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by this article or by instructions is excused if (i) the delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure of equipment, or other circumstances beyond the control of the bank, and (ii) the bank exercises such diligence as the circumstances require.Added by Laws 1991, c. 117, § 102, eff. Jan. 1, 1992.
12A OK Stat § 12A-4-110 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-4-110. Electronic Presentment.

|ELECTRONIC PRESENTMENT |(a) "Agreement for electronic presentment" means an agreement, clearing-house rule, or Federal Reserve regulation or operating circular, providing that presentment of an item may be made by transmission of an image of an item or information describing the item ("presentment notice") rather than delivery of the item itself. The agreement may provide for procedures governing retention, presentment, payment, dishonor, and other matters concerning items subject to the agreement.(b) Presentment of an item pursuant to an agreement for presentment is made when the presentment notice is received.(c) If presentment is made by presentment notice, a reference to "item" or "check" in this article means the presentment notice unless the context otherwise indicates.Added by Laws 1991, c. 117, § 103, eff. Jan. 1, 1992.
12A OK Stat § 12A-4-111 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-4-111. Statute of Limitations.

|STATUTE OF LIMITATIONS |An action to enforce an obligation, duty, or right arising under this article must be commenced within three (3) years after the claim for relief accrues.Added by Laws 1991, c. 117, § 104, eff. Jan. 1, 1992.