Okla. Stat. tit. 12A, § 12A-3-106: Unconditional Promise or Order
Where this section sits in the code
- OK Code
- Title 12A
UNCONDITIONAL PROMISE OR ORDER
(a) Except as provided in this section, for the purposes of
subsection (a) of Section 3-104 of this title, a promise or order is
unconditional unless it states (i) an express condition to payment,
(ii) that the promise or order is subject to or governed by another
record, or (iii) that rights or obligations with respect to the
promise or order are stated in another record. A reference to
another record does not of itself make the promise or order
conditional.
(b) A promise or order is not made conditional (i) by a
reference to another record for a statement of rights with respect
to collateral, prepayment, or acceleration, or (ii) because payment
is limited to resort to a particular fund or source.
(c) If a promise or order requires, as a condition to payment,
a countersignature by a person whose specimen signature appears on
the promise or order, the condition does not make the promise or
order conditional for the purposes of subsection (a) of Section 3-
104 of this title. If the person whose specimen signature appears
on an instrument fails to countersign the instrument, the failure to
countersign is a defense to the obligation of the issuer, but the
failure does not prevent a transferee of the instrument from
becoming a holder of the instrument.
(d) If a promise or order at the time it is issued or first
comes into possession of a holder contains a statement, required by
applicable statutory or administrative law, to the effect that the
rights of a holder or transferee are subject to claims or defenses
that the issuer could assert against the original payee, the promise
or order is not thereby made conditional for the purposes of
subsection (a) of Section 3-104 of this title; but if the promise or
order is an instrument, there cannot be a holder in due course of
the instrument.
Collected 2026-09-14T18:32:36Z. Source file · JSON