{"data":{"id":"us-or/ors-73.0407","jurisdiction":"us-or","citation":"ORS 73.0407","heading":"Alteration.","body":"(1) “Alteration” means:\n      (a) An unauthorized change in an instrument that purports to modify in any respect the obligation of a party; or\n      (b) An unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.\n      (2) Except as provided in subsection (3) of this section, an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration. No other alteration discharges a party, and the instrument may be enforced according to its original terms.\n      (3) A payor bank or drawee paying a fraudulently altered instrument or a person taking it for value or for collection, in good faith and without notice of the alteration, may enforce rights with respect to the instrument:\n      (a) According to its original terms; or\n      (b) In the case of an incomplete instrument altered by unauthorized completion, according to its terms as completed.","path":["02 - Business Organizations, Commercial Code","8. Commercial Transactions","Chapter 73 — Negotiable Instruments"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors073.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:10Z","sha256":"9a4b20448108543804a98862887efa95b633329db46e5770aa76208dbbf78270","source_id":"us-or","stale":false,"prev":"us-or/ors-73.0406","next":"us-or/ors-73.0408"},"notice":"GroundRules: Original legal text. Not legal advice."}