Okla. Stat. tit. 12A, § 12A-3-406
This is the official text of Okla. Stat. tit. 12A, § 12A-3-406, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Negligence Contributing to Forged Signature or
Official statutory text
Alteration of Instrument.
NEGLIGENCE CONTRIBUTING TO FORGED SIGNATURE
OR ALTERATION OF INSTRUMENT
(a) A person whose failure to exercise ordinary care
substantially contributes to an alteration of an instrument or to
the making of a forged signature on an instrument is precluded from
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 310
asserting the alteration or the forgery against a person who, in
good faith, pays the instrument or takes it for value or for
collection.
(b) Under subsection (a) of this section, if the person
asserting the preclusion fails to exercise ordinary care in paying
or taking the instrument and that failure substantially contributes
to loss, the loss is allocated between the person precluded and the
person asserting the preclusion according to the extent to which the
failure of each to exercise ordinary care contributed to the loss.
(c) Under subsection (a) of this section, the burden of proving
failure to exercise ordinary care is on the person asserting the
preclusion. Under subsection (b) of this section, the burden of
proving failure to exercise ordinary care is on the person
precluded.
NEGLIGENCE CONTRIBUTING TO FORGED SIGNATURE
OR ALTERATION OF INSTRUMENT
(a) A person whose failure to exercise ordinary care
substantially contributes to an alteration of an instrument or to
the making of a forged signature on an instrument is precluded from
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 310
asserting the alteration or the forgery against a person who, in
good faith, pays the instrument or takes it for value or for
collection.
(b) Under subsection (a) of this section, if the person
asserting the preclusion fails to exercise ordinary care in paying
or taking the instrument and that failure substantially contributes
to loss, the loss is allocated between the person precluded and the
person asserting the preclusion according to the extent to which the
failure of each to exercise ordinary care contributed to the loss.
(c) Under subsection (a) of this section, the burden of proving
failure to exercise ordinary care is on the person asserting the
preclusion. Under subsection (b) of this section, the burden of
proving failure to exercise ordinary care is on the person
precluded.
Status: in_force · Read it on the official government site
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