(1) As used in this chapter: (a) Acceptor means a drawee who has accepted a draft. (b) Drawee means a person ordered in a draft to make payment. (c) Drawer means a person who signs or is identified in a draft as a person ordering payment. (d) Maker means a person who signs or is identified in a note as a person undertaking to pay. (e) Order means a written instruction to pay money signed by the person giving the instruction. The instruction may be addressed to any person, including the person giving the instruction, or to one or more persons jointly or in the alternative but not in succession. An authorization to pay is not an order unless the person authorized to pay is also instructed to pay. (f) Ordinary care in the case of a person engaged in business means observance of reasonable commercial standards, prevailing in the area in which the person is located, with respect to the business in which the person is engaged. In the case of a bank that takes an instrument for processing for collection or payment by automated means, reasonable commercial standards do not require the bank to examine the instrument if the failure to examine does not violate the banks prescribed procedures and the banks procedures do not vary unreasonably from general banking usage not disapproved under this chapter or ORS chapter 74. (g) Party means a party to an instrument. (h) Promise means a written undertaking to pay money signed by the person undertaking to pay. An acknowledgment of an obligation by the obligor is not a promise unless the obligor also undertakes to pay the obligation. (i) Prove with respect to a fact means to meet the burden of establishing the fact as defined in ORS 71.2010 (2)(h). (j) Remitter means a person who purchases an instrument from the issuer if the instrument is payable to an identified person other than the purchaser. (2) Other definitions applying to this chapter and the sections in which they appear are: Acceptance ORS 73.0409 Accommodated party ORS 73.0419 Accommodation party ORS 73.0419 Alteration ORS 73.0407 Anomalous indorsement ORS 73.0205 Blank indorsement ORS 73.0205 Cashiers check ORS 73.0104 Certificate of deposit ORS 73.0104 Certified check ORS 73.0409 Check ORS 73.0104 Consideration ORS 73.0303 Demand draft ORS 73.0104 Draft ORS 73.0104 Holder in due course ORS 73.0302 Incomplete instrument ORS 73.0115 Indorsement ORS 73.0204 Indorser ORS 73.0204 Instrument ORS 73.0104 Issue ORS 73.0105 Issuer ORS 73.0105 Negotiable instrument ORS 73.0104 Negotiation ORS 73.0201 Note ORS 73.0104 Payable at a definite time ORS 73.0108 Payable on demand ORS 73.0108 Payable to bearer ORS 73.0109 Payable to order ORS 73.0109 Payment ORS 73.0602 Person entitled to enforce ORS 73.0301 Presentment ORS 73.0501 Reacquisition ORS 73.0207 Special indorsement ORS 73.0205 Tellers check ORS 73.0104 Transfer of instrument ORS 73.0203 Travelers check ORS 73.0104 Value ORS 73.0303 (3) The following definitions in ORS chapter 74 apply to this chapter: Bank ORS 74.1050 Banking day ORS 74.1040 Clearing house ORS 74.1040 Collecting bank ORS 74.1050 Depositary bank ORS 74.1050 Documentary draft ORS 74.1040 Intermediary bank ORS 74.1050 Item ORS 74.1040 Payor bank ORS 74.1050 Suspends payments ORS 74.1040 (4) In addition, ORS chapter 71 contains general definitions and principles of construction and interpretation applicable throughout this chapter.
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