reglab/housing_qa huggingface dataset:
OR Rev Stat § 73.0504 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 073 - Negotiable Instruments|Section 73.0504 - Excused presentment and notice of dishonor.

(1) Presentment for payment or acceptance of an instrument is excused if: (a) The person entitled to present the instrument cannot with reasonable diligence make presentment; (b) The maker or acceptor has repudiated an obligation to pay the instrument or is dead or in insolvency proceedings; (c) By the terms of the instrument presentment is not necessary to enforce the obligation of indorsers or the drawer; (d) The drawer or indorser whose obligation is being enforced has waived presentment or otherwise has not reason to expect or right to require that the instrument be paid or accepted; or (e) 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. (2) Notice of dishonor is excused if by the terms of the instrument notice of dishonor is not necessary to enforce the obligation of a party to pay the instrument, or the party whose obligation is being enforced waived notice of dishonor. A waiver of presentment is also a waiver of notice of dishonor. (3) 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. [1993 c.545 §65]
OR Rev Stat § 73.0505 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 073 - Negotiable Instruments|Section 73.0505 - Evidence of dishonor.

(1) The following are admissible as evidence and create a presumption of dishonor and of any notice of dishonor stated: (a) A document regular in form as provided in subsection (2) of this section which purports to be a protest; (b) 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 (c) 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. (2) A protest is a certificate of dishonor made by a United States consul or vice consul, or a notary public described in ORS 194.375 or other person authorized to administer oaths by the law of the place where dishonor occurs. The protest may be made upon information satisfactory to that person. The protest must identify the instrument and certify that either 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. [1993 c.545 §66; 2009 c.123 §6; 2013 c.219 §54]
OR Rev Stat § 73.0601 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 073 - Negotiable Instruments|Section 73.0601 - Discharge and effect of discharge.

(1) The obligation of a party to pay the instrument is discharged as stated in this chapter or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract. (2) 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. [1993 c.545 §67]
OR Rev Stat § 73.0602 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 073 - Negotiable Instruments|Section 73.0602 - Payment.

(1) Subject to subsection (2) of this section, an instrument is paid to the extent payment is made by or on behalf of a party obliged to pay the instrument, and to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under ORS 73.0306 or by another person. (2) The obligation of a party to pay the instrument is not discharged under subsection (1) of this section if: (a) A claim to the instrument under ORS 73.0306 is enforceable against the party receiving payment and: (A) Payment is made with knowledge of the payor that payment is prohibited by injunction or similar process or a court of competent jurisdiction; or (B) In the case an instrument other than a cashier’s check, teller’s check or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or (b) The person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument. [1993 c.545 §68]
OR Rev Stat § 73.0603 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 073 - Negotiable Instruments|Section 73.0603 - Tender of payment.

(1) 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. (2) 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. (3) 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. [1993 c.545 §69]
OR Rev Stat § 73.0604 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 073 - Negotiable Instruments|Section 73.0604 - Discharge by cancellation or renunciation.

(1) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument: (a) 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 (b) By agreeing not to sue or otherwise renouncing rights against the party by a signed writing. (2) Cancellation or striking out of an indorsement pursuant to subsection (1) of this section does not affect the status and rights of a party derived from the indorsement. [1993 c.545 §70]
OR Rev Stat § 74.500 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.500

[Renumbered 165.655]
OR Rev Stat § 74.510 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.510

[Renumbered 165.660]
OR Rev Stat § 74.520 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.520

[Renumbered 165.665]
OR Rev Stat § 74.530 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.530

[Renumbered 165.670]
OR Rev Stat § 74.540 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.540

[Renumbered 165.675]
OR Rev Stat § 74.550 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.550

[Renumbered 165.680]
OR Rev Stat § 74.1010 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.1010 - Short title.

This chapter may be cited as Uniform Commercial Code–Bank Deposits and Collections. [1961 c.726 §74.1010]
OR Rev Stat § 74.1020 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.1020 - Applicability.

(1) To the extent that items within this chapter are also within ORS chapters 73 and 78, they are subject to those chapters. If there is conflict, this chapter and ORS chapter 78 govern ORS chapter 73. (2) The liability of a bank for action or nonaction with respect to an 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. [1961 c.726 §74.1020; 1993 c.545 §73; 1995 c.79 §25]
OR Rev Stat § 74.1030 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.1030 - Variation by agreement; measure of damages; action constituting ordinary care.

(1) The effect of the provisions of this chapter 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. (2) Federal reserve regulations and operating circulars, clearing house rules, and the like have the effect of agreements under subsection (1) of this section whether or not specifically assented to by all parties interested in items handled. (3) Action or nonaction approved by this chapter or pursuant to Federal Reserve regulations or operating circulars is the exercise of ordinary care and, in the absence of special instructions, action or nonaction consistent with clearing house rules and the like or with a general banking usage not disapproved by this chapter, is prima facie the exercise of ordinary care. (4) The specification or approval of certain procedures by this chapter is not disapproval of other procedures that may be reasonable under the circumstances. (5) 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 bad faith it includes any other damages the party suffered as a proximate consequence. [1961 c.726 §74.1030; 1993 c.545 §74]
OR Rev Stat § 74.1050 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.1050 - "Bank"; "depositary bank"; "intermediary bank"; "collecting bank"; "payor bank"; "presenting bank."

In this chapter: (1) "Bank" means a financial institution, as defined in ORS 706.008. (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. (6) "Presenting bank" means a bank presenting an item except a payor bank. [1961 c.726 §74.1050; 1993 c.545 §76; 1997 c.631 §380]
OR Rev Stat § 74.1060 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.1060 - Payable through or payable at bank; collecting bank.

(1) If an item states that it is "payable through" a bank identified in the item: (a) The item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and (b) The item may be presented for payment only by or through the bank. (2) If an item states that it is "payable at" a bank identified in the item: (a) The item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and (b) The item may be presented for payment only by or through the bank. (3) 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. [1961 c.726 §74.1060; 1963 c.402 §2; 1993 c.545 §77]
OR Rev Stat § 74.1070 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.1070 - Separate office of bank for computing time for actions, notices and orders.

A bank 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 notices or orders must be given under this chapter and ORS chapter 73. [1961 c.726 §74.1070; 1993 c.545 §78]
OR Rev Stat § 74.1080 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.1080 - Time of receipt of items.

(1) For the purpose of allowing time to process items, prove balances and make the necessary entries on its books to determine its position for a day, a bank may fix an afternoon hour of 2 p.m. or later as a cutoff hour for the handling of money and items and the making of entries on its books. (2) An item or deposit of money received on any day after a cutoff hour so fixed or after the close of the banking day may be treated as being received at the opening of the next banking day. [1961 c.726 §74.1080; 1993 c.545 §79]
OR Rev Stat § 74.1090 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.1090 - Waiver of time limits; when delay excused.

(1) 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 the Uniform Commercial Code for a period not exceeding two additional banking days without discharge of drawers or indorsers or liability to its transferor or a prior party. (2) Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by the Uniform Commercial Code or by instructions is excused if: (a) 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 (b) The bank exercises such diligence as the circumstances require. [1993 c.545 §81]
OR Rev Stat § 74.1110 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.1110 - Statute of limitations.

An action to enforce an obligation, duty or right arising under this chapter must be commenced within three years after the claim for relief accrues. [1993 c.545 §83]
OR Rev Stat § 74.1120 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.1120 - Electronic presentment.

(1) "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. (2) Presentment of an item pursuant to an agreement for presentment is made when the presentment notice is received. (3) If presentment is made by presentment notice, a reference to "item" or "check" in this chapter means the presentment notice unless the context otherwise indicates. [1993 c.545 §82]
OR Rev Stat § 74.2010 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.2010 - Status of collecting bank as agent and provisional status of credits; applicability of chapter; item indorsed "pay any bank."

(1) Unless a contrary intent clearly appears and before the time that a settlement given by a collecting bank for an item is or becomes final the bank, with respect to the item, is an agent or subagent of the owner of the item and any settlement given for the item is provisional. This provision applies regardless of the form of indorsement or lack of indorsement and even though credit given for the item is subject to immediate withdrawal as of right or is in fact withdrawn; but the continuance of ownership of an item by its owner and any rights of the owner to proceeds of the item are subject to rights of a collecting bank, such as those resulting from outstanding advances on the item and rights of recoupment or setoff. If an item is handled by banks for purposes of presentment, payment, collection or return, the relevant provisions of this chapter apply even though action of the parties clearly establishes that a particular bank has purchased the item and is the owner of it. (2) After an item has been indorsed with the words "pay any bank" or the like, only a bank may acquire the rights of a holder until the item has been: (a) Returned to the customer initiating collection; or (b) Specially indorsed by a bank to a person who is not a bank. [1961 c.726 §74.2010; 1993 c.545 §84]
OR Rev Stat § 74.2020 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.2020 - Responsibility for collection; when action timely.

(1) A collecting bank must exercise ordinary care in: (a) Presenting an item or sending it for presentment; (b) Sending notice of dishonor or nonpayment or returning an item other than a documentary draft to the bank’s transferor after learning that the item has not been paid or accepted, as the case may be; (c) Settling for an item when the bank receives final settlement; and (d) Notifying its transferor of any loss or delay in transit within a reasonable time after discovery thereof. (2) A collecting bank exercises ordinary care under subsection (1) of this section by taking proper action before its midnight deadline following receipt of an item, notice or settlement. Taking proper action within a reasonably longer time may constitute the exercise of ordinary care, but the bank has the burden of establishing timeliness. (3) Subject to subsection (1)(a) of this section, a bank is not liable for the insolvency, neglect, misconduct, mistake or default of another bank or person or for loss or destruction of an item in the possession of others or in transit. [1961 c.726 §74.2020; 1993 c.545 §85]
OR Rev Stat § 74.2030 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.2030 - Effect of instructions.

Subject to ORS 73.0420 concerning conversion of instruments and ORS chapter 73 and this chapter concerning restrictive indorsements, only a collecting bank’s transferor can give instructions that affect the bank or constitute notice to it, and a collecting bank is not liable to prior parties for any action taken pursuant to the instructions or in accordance with any agreement with its transferor. [1961 c.726 §74.2030; 1993 c.545 §86]
OR Rev Stat § 74.2040 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.2040 - Methods of sending and presenting; presentment.

(1) A collecting bank shall send items by a reasonably prompt method, taking into consideration relevant instructions, the nature of the item, the number of those items on hand, the cost of collection involved, and the method generally used by it or others to present those items. (2) A collecting bank may send: (a) An item directly to the payor bank; (b) An item to a nonbank payor if authorized by its transferor; and (c) An item other than documentary drafts to a nonbank payor, if authorized by Federal Reserve regulation or operating circular, clearing house rule or the like. (3) Presentment may be made by a presenting bank at a place where the payor bank or other payor has requested that presentment be made. [1961 c.726 §74.2040; 1963 c.402 §3; 1993 c.545 §87]
OR Rev Stat § 74.2050 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.2050 - Depositary bank as holder of unindorsed item.

If a customer delivers an item to a depositary bank for collection: (1) The depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer indorses the item, and, if the bank satisfies the other requirements of ORS 73.0302, it is a holder in due course; and (2) The depositary bank warrants to collecting banks, the payor bank or other payor, and the drawer that the amount of the item was paid to the customer or deposited to the customer’s account. [1961 c.726 §74.2050; 1993 c.545 §88]
OR Rev Stat § 74.2060 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 074 - Bank Deposits and Collections|Section 74.2060 - Transfer between banks.

Any agreed method that identifies the transferor bank is sufficient for the item’s further transfer to another bank. [1961 c.726 §74.2060; 1993 c.545 §89]