Home/Oregon Supreme Court/Seattle-First National Bank v. Schriber

Seattle-First National Bank v. Schriber

580 P.2d 1012, 282 Or. 625, 24 U.C.C. Rep. Serv. (West) 359, 1978 Ore. LEXIS 953
CourtOregon Supreme Court
DecidedJune 20, 1978
DocketTC A7604-05594, SC 25451
StatusPublished
Cited by6 cases

This text of 580 P.2d 1012 (Seattle-First National Bank v. Schriber) is published on Counsel Stack Legal Research, covering Oregon Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Seattle-First National Bank v. Schriber, 580 P.2d 1012, 282 Or. 625, 24 U.C.C. Rep. Serv. (West) 359, 1978 Ore. LEXIS 953 (Or. 1978).

Opinion

*627 LENT, J.

On April 21, 1976, plaintiff, a national bank, filed this action to recover the unpaid balance on a promissory note. Plaintiff alleged that defendant on December 15, 1969, had executed and delivered the note reproduced on following page in favor of the plaintiff.

Defendant, pursuant to ORS 16.260(7), 1 demurred to the complaint for the reason that the action was not commenced within the six-year period of the governing statute of limitations, ORS 12.080. 2 The trial court sustained defendant’s demurrer. Plaintiff declined to plead over, and judgment was given for defendant. Plaintiff appeals, assigning this ruling as error.

The sole issue in this case is whether the note in question is a demand note as a matter of law. We hold it is not and reverse.

The importance of this characterization is the different treatment given demand and time notes by the Uniform Commercial Code, ORS ch 73 (and the "generally accepted rule” before that), with regard to the accrual of causes of action against the maker. ORS 73.1220 provides:

"(1) A cause of action against a maker * * * accrues
"(a) In the case of a time instrument on the day after maturity;

*628

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Reese v. First Missouri Bank & Trust Co. of Creve Coeur
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Seattle-First National Bank v. Scheiber
625 P.2d 1370 (Court of Appeals of Oregon, 1981)

Cite This Page — Counsel Stack

Bluebook (online)
580 P.2d 1012, 282 Or. 625, 24 U.C.C. Rep. Serv. (West) 359, 1978 Ore. LEXIS 953, Counsel Stack Legal Research, https://law.counselstack.com/opinion/seattle-first-national-bank-v-schriber-or-1978.