{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-3-310","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-3-310","heading":"Effect of Instrument on Obligation for Which Taken","body":"EFFECT OF INSTRUMENT ON OBLIGATION FOR WHICH TAKEN\n\n(a) Unless otherwise agreed, if a certified check, cashier's\n\ncheck, or teller's check is taken for an obligation, the obligation\n\nis discharged to the same extent discharge would result if an amount\n\nof money equal to the amount of the instrument were taken in payment\n\nof the obligation. Discharge of the obligation does not affect any\n\nliability that the obligor may have as an indorser of the\n\ninstrument.\n\n(b) Unless otherwise agreed and except as provided in\n\nsubsection (a) of this section, if a note or an uncertified check is\n\ntaken for an obligation, the obligation is suspended to the same\n\nextent the obligation would be discharged if an amount of money\n\nequal to the amount of the instrument were taken, and the following\n\nrules apply:\n\n(1) In the case of an uncertified check, suspension of the\n\nobligation continues until dishonor of the check or\n\nuntil it is paid or certified. Payment or\n\ncertification of the check results in discharge of the\n\nobligation to the extent of the amount of the check;\n\n(2) In the case of a note, suspension of the obligation\n\ncontinues until dishonor of the note or until it is\n\npaid. Payment of the note results in discharge of the\n\nobligation to the extent of the payment;\n\n(3) Except as provided in paragraph (4) of this\n\nsubsection, if the check or note is dishonored and the\n\nobligee of the obligation for which the instrument was\n\ntaken is the person entitled to enforce the\n\ninstrument, the obligee may enforce either the\n\ninstrument or the obligation. In the case of an\n\ninstrument of a third person which is negotiated to\n\nthe obligee by the obligor, discharge of the obligor\n\non the instrument also discharges the obligation; and\n\n(4) If the person entitled to enforce the instrument taken\n\nfor an obligation is a person other than the obligee,\n\nthe obligee may not enforce the obligation to the\n\nextent the obligation is suspended. If the obligee is\n\nthe person entitled to enforce the instrument but no\n\nlonger has possession of it because it was lost,\n\nstolen, or destroyed, the obligation may not be\n\nenforced to the extent of the amount payable on the\n\ninstrument, and to that extent the obligee's rights\n\nagainst the obligor are limited to enforcement of the\n\ninstrument.\n\n(c) If an instrument other than one described in subsection (a)\n\nor (b) of this section is taken for an obligation, the effect is (i)\n\nthat stated in subsection (a) of this section if the instrument is\n\none on which a bank is liable as maker or acceptor, or (ii) that\n\nstated in subsection (b) of this section in any other case.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"9afe4b340917c8441383cc0ddbe10c99da2a6a20d0d4df1c766b30fd28dd5516","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-3-309","next":"us-ok/okla.-stat.-tit.-12a-12a-3-311"},"notice":"GroundRules: Original legal text. Not legal advice."}