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ORS 78.3050

Known as the Uniform Commercial Code

The act spans §§ 78–78 (66 sections).

1961 c.726 §78.3050; 1985 c.676 §78.3050; 1995 c.328 §31

(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.

(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.

Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.