(2) If the obligated bank wrongfully refuses to pay a cashier’s check or certified check, stops payment of a teller’s check, or refuses to pay a dishonored teller’s check, the person asserting the right to enforce the check is entitled to compensation for expenses and loss of interest resulting from the nonpayment and may recover consequential damages if the obligated bank refuses to pay after receiving notice of particular circumstances giving rise to the damages.
(3) Expenses or consequential damages under subsection (2) of this section are not recoverable if the refusal of the obligated bank to pay occurs because:
(a) The bank suspends payments;
(b) The obligated bank asserts a claim or defense of the bank that it has reasonable grounds to believe is available against the person entitled to enforce the instrument;
(c) The obligated bank has a reasonable doubt whether the person demanding payment is the person entitled to enforce the instrument; or
(d) Payment is prohibited by law. [1993 c.545 §52]
Structure 2021 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 073 - Negotiable Instruments
Section 73.0102 - Application of chapter.
Section 73.0103 - Definitions.
Section 73.0104 - Negotiable instrument; other definitions.
Section 73.0105 - Issue of instrument.
Section 73.0106 - Unconditional promise or order.
Section 73.0108 - Payable on demand or at definite time.
Section 73.0109 - Payable to bearer or to order.
Section 73.0110 - Identification of person to whom instrument is payable.
Section 73.0113 - Date of instrument.
Section 73.0115 - Incomplete instrument.
Section 73.0116 - Joint and several liability; contribution.
Section 73.0118 - Statute of limitations.
Section 73.0201 - Negotiation.
Section 73.0202 - Negotiation subject to rescission.
Section 73.0203 - Transfer of instrument; rights acquired by transfer.
Section 73.0204 - Indorsement.
Section 73.0205 - Special indorsement; blank indorsement; anomalous indorsement.
Section 73.0206 - Restrictive indorsement.
Section 73.0302 - Holder in due course.
Section 73.0303 - Value and consideration.
Section 73.0304 - Overdue instrument.
Section 73.0305 - Defenses and claims in recoupment.
Section 73.0307 - Notice of breach of fiduciary duty.
Section 73.0308 - Proof of signatures and status as holder in due course.
Section 73.0309 - Enforcement of lost, destroyed or stolen instrument.
Section 73.0310 - Effect of instrument on obligation for which taken.
Section 73.0312 - Lost, destroyed or stolen cashier’s check, teller’s check or certified check.
Section 73.0402 - Signature by representative.
Section 73.0403 - Unauthorized signature.
Section 73.0404 - Impostors; fictitious payees.
Section 73.0405 - Employer’s responsibility for fraudulent indorsement by employee.
Section 73.0406 - Negligence contributing to forged signature or alteration of instrument.
Section 73.0409 - Acceptance of draft; certified check.
Section 73.0410 - Acceptance varying draft.
Section 73.0411 - Refusal to pay cashier’s checks, teller’s checks and certified checks.
Section 73.0413 - Obligation of acceptor.
Section 73.0414 - Obligation of drawer.
Section 73.0415 - Obligation of indorser.
Section 73.0416 - Transfer warranties.
Section 73.0417 - Presentment warranties.
Section 73.0418 - Payment or acceptance by mistake.
Section 73.0419 - Instruments signed for accommodation.
Section 73.0420 - Conversion of instrument.
Section 73.0501 - Presentment.
Section 73.0503 - Notice of dishonor.
Section 73.0504 - Excused presentment and notice of dishonor.
Section 73.0505 - Evidence of dishonor.
Section 73.0601 - Discharge and effect of discharge.
Section 73.0603 - Tender of payment.
Section 73.0604 - Discharge by cancellation or renunciation.
Section 73.0605 - Discharge of indorsers and accommodation parties.