GroundRules
← Search the law
Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 12A, § 12A-3-418: Payment or Acceptance by Mistake

Read at publisher ↗
Where this section sits in the code
  1. OK Code
  2. Title 12A

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.

Collected 2026-09-14T18:32:36Z. Source file · JSON

Browse this collection