ORS 73.0407
Alteration
(1)
“Alteration” means:(a)
An unauthorized change in an instrument that purports to modify in any respect the obligation of a party; or(b)
An unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.(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.(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:(a)
According to its original terms; or(b)
In the case of an incomplete instrument altered by unauthorized completion, according to its terms as completed. [1993 c.545 §48]
Source:
Section 73.0407 — Alteration, https://www.oregonlegislature.gov/bills_laws/ors/ors073.html.
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