NEGOTIABLE INSTRUMENT (a) Except as provided in subsections (c) and (d) of this section, "negotiable instrument" means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if it: (1) is payable to bearer or to order at the time it is issued or first comes into possession of a holder; (2) is payable on demand or at a definite time; and (3) does not state any other undertaking or instruction by the person promising or ordering payment to do any act in addition to the payment of money, but the promise or order may contain (i) an undertaking or power to give, maintain, or protect collateral to secure
payment, (ii) an authorization or power to the holder to confess judgment or realize on or dispose of collateral, (iii) a waiver of the benefit of any law intended for the advantage or protection of an obligor, (iv) a term that specifies the law that governs the promise or order, or (v) an undertaking to resolve in a specified forum a dispute concerning the promise or order. (b) "Instrument" means a negotiable instrument. (c) An order that meets all of the requirements of subsection (a) of this section, except paragraph (1), and otherwise falls within the definition of "check" in subsection (f) of this section is a negotiable instrument and a check. (d) A promise or order other than a check is not an instrument if, at the time it is issued or first comes into possession of a holder, it contains a conspicuous statement, however expressed, to the effect that the promise or order is not negotiable or is not an instrument governed by this article. (e) An instrument is a "note" if it is a promise and is a "draft" if it is an order. If an instrument falls within the definition of both "note" and "draft", a person entitled to enforce the instrument may treat it as either. (f) "Check" means (i) a draft, other than a documentary draft, payable on demand and drawn on a bank or (ii) a cashier's check or teller's check. An instrument may be a check even though it is described on its face by another term, such as "money order". (g) "Cashier's check" means a draft with respect to which the drawer and drawee are the same bank or branches of the same bank. (h) "Teller's check" means a draft drawn by a bank (i) on another bank, or (ii) payable at or through a bank. (i) "Traveler's check" means an instrument that (i) is payable on demand, (ii) is drawn on or payable at or through a bank, (iii) is designated by the term "traveler's check" or by a substantially similar term, and (iv) requires, as a condition to payment, a countersignature by a person whose specimen signature appears on the instrument. (j) "Certificate of deposit" means an instrument containing an acknowledgment by a bank that a sum of money has been received by the bank and a promise by the bank to repay the sum of money. A certificate of deposit is a note of the bank. Added by Laws 1961, p. 103, § 3-104. Amended by Laws 1991, c. 117, § 29, eff. Jan. 1, 1992; Laws 2024, c. 13, § 20, eff. Nov. 1, 2024.
Notes of Decisions
Goss v. Trinity Sav. & Loan Ass'n, 813 P.2d 492 (Okla. 1991).
· cites it 3× “Section 12A O.S.1981, § 3-104 states: (1) Any writing to be a negotiable instrument within this Article must (a) be signed by the maker or drawer; and (b) contain an unconditional promise or order to pay a sum certain in money and no other promise, order, obligation or power…”
Shepherd Mall State Bank v. Johnson, 603 P.2d 1115 (Okla. 1979).
· cites it 3× “2 Pursuant to 12A O.S. 1971 § 3-104, a writing is not a negotiable instrument unless it is signed by the maker or drawer; contains an unconditional promise or order to pay a sum certain and no other promise; is payable on demand or at a definite time; and is payable to order or…”
Sunrizon Homes, Inc. v. Am. Guar. Inv. Corp., 782 P.2d 103 (Okla. 1989).
· cites it 2× “" [6] Title 12A O.S. 1981 § 3-104 provides in pertinent part: "(1) A writing to be a negotiable instrument within this article must (a) be signed by the maker or drawer; and (b) contain an unconditional promise or order to pay a sum certain in money and no other promise, order,…”
First Nat'l Bank v. Duncan Sav. & Loan Ass'n, 656 F. Supp. 358 (W.D. Okla. 1987).
· cites it 3× “Paramount to all of its arguments is its first argument: A money order is a check pursuant to Okla. Stat. tit. 12A, § 3-104 to which the U.”
Deutsche Bank Nat'l Trust Co. v. Matthews, 2012 OK 14, 273 P.3d 43.
“¶ 6 The note, in which the Matthews promised to pay a sum certain to the order of Lender, is a negotiable instrument pursuant to 12A O.S.2001 § 3-104(a). It may be indorsed specially to be payable to an identified person or it may be indorsed in blank to be payable to bearer.”
Haines Pipeline Constr., Inc. v. Exline Gas Sys., Inc., 921 P.2d 955 (Okla. Civ. App. 1996).
· cites it 3× “The guaranty also fails to qualify as a “negotiable instrument” under 12A O.S. 1981 § 3-104’s requirement that it contain “an unconditional promise or order to pay a sum certain in money.”
Price v. Mize, 628 P.2d 705 (Okla. 1981).
“1978 § 142: The venue of civil actions for the collection of an open account, a statement of account, account stated, written or oral contract relating to the purchase of goods, wares or merchandise or for labor, or for the collection of any note or other instrument of…”
Doyle v. Trinity Sav. & Loan Ass'n, 869 F.2d 558 (10th Cir. 1989).
““Because the note does not contain a promise to pay a sum certain, the note itself cannot be a negotiable instrument pursuant to [Okla.Stat. tit. 12A, § 3-104 (1981)]. Therefore, FNMA cannot be accorded the status of a holder in due course.”
Friendly Nat'l Bank of Sw. Oklahoma City v. Farmers Ins. Grp., 630 P.2d 318 (Okla. 1981).
“” 12A O.S.1971, § 3-104 provides: “(1) Any writing to be a negotiable instrument within this Article must (a) be signed by the maker or drawer; and (b) contain an unconditional promise or order to pay a sum certain in money and no other promise, order, obligation or power given…”
Okla. Stat. tit. 12A, § 3-104(1): 2 cases
First Nat'l Bank v. Duncan Sav. & Loan Ass'n, 656 F. Supp. 358 (W.D. Okla. 1987).
“Paramount to all of its arguments is its first argument: A money order is a check pursuant to Okla. Stat. tit. 12A, § 3-104 to which the U.”
Price v. Mize, 628 P.2d 705 (Okla. 1981).
“1978 § 142: The venue of civil actions for the collection of an open account, a statement of account, account stated, written or oral contract relating to the purchase of goods, wares or merchandise or for labor, or for the collection of any note or other instrument of…”
Okla. Stat. tit. 12A, § 3-104(1)(b): 1 case
Okla. Stat. tit. 12A, § 3-104(2)(b): 4 cases
First Nat'l Bank v. Duncan Sav. & Loan Ass'n, 656 F. Supp. 358 (W.D. Okla. 1987).
“Paramount to all of its arguments is its first argument: A money order is a check pursuant to Okla. Stat. tit. 12A, § 3-104 to which the U.”
Okla. Stat. tit. 12A, § 3-104(a): 1 case
Deutsche Bank Nat'l Trust Co. v. Matthews, 2012 OK 14, 273 P.3d 43.
“¶ 6 The note, in which the Matthews promised to pay a sum certain to the order of Lender, is a negotiable instrument pursuant to 12A O.S.2001 § 3-104(a). It may be indorsed specially to be payable to an identified person or it may be indorsed in blank to be payable to bearer.”
Okla. Stat. tit. 12A, § 3-104(b): 1 case
Haines Pipeline Constr., Inc. v. Exline Gas Sys., Inc., 921 P.2d 955 (Okla. Civ. App. 1996).
“The guaranty also fails to qualify as a “negotiable instrument” under 12A O.S. 1981 § 3-104’s requirement that it contain “an unconditional promise or order to pay a sum certain in money.”
Okla. Stat. tit. 12A, § 3-104(d): 1 case
Okla. Stat. tit. 12A, § 3-104(l)(b): 1 case
Goss v. Trinity Sav. & Loan Ass'n, 813 P.2d 492 (Okla. 1991).
“Section 12A O.S.1981, § 3-104 states: (1) Any writing to be a negotiable instrument within this Article must (a) be signed by the maker or drawer; and (b) contain an unconditional promise or order to pay a sum certain in money and no other promise, order, obligation or power…”
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