Okla. Stat. tit. 12A, § 12A-3-418
This is the official text of Okla. Stat. tit. 12A, § 12A-3-418, 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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Payment or Acceptance by Mistake
Official statutory text
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
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 317
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.
(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
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 317
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.
Status: in_force · Read it on the official government site
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