Oklahoma § 12A-3-108 Payable on Demand or at Definite Time.

Oklahoma Statutes

§ 12A-3-108 — Payable on Demand or at Definite Time.

Oklahoma § 12A-3-108

Title 12AUniform Commercial Code

This text of Oklahoma § 12A-3-108 (Payable on Demand or at Definite Time.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 12A, § 12A-3-108 (2026).

Text

PAYABLE ON DEMAND OR AT DEFINITE TIME (a) A promise or order is "payable on demand" if it (i) states that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder, or (ii) does not state any time of payment.

(b)A promise or order is "payable at a definite time" if it is payable on elapse of a definite period of time after sight or acceptance or at a fixed date or dates or at a time or times readily ascertainable at the time the promise or order is issued, subject to rights of (i) prepayment, (ii) acceleration, (iii) extension at the option of the holder, or (iv) extension to a further definite time at the option of the maker or acceptor or automatically upon or after a specified act or event.

(c)If an instrument, payable at a fixed date, is

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PAYABLE ON DEMAND OR AT DEFINITE TIME (a) A promise or order is "payable on demand" if it (i) states that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder, or (ii) does not state any time of payment. (b) A promise or order is "payable at a definite time" if it is payable on elapse of a definite period of time after sight or acceptance or at a fixed date or dates or at a time or times readily ascertainable at the time the promise or order is issued, subject to rights of (i) prepayment, (ii) acceleration, (iii) extension at the option of the holder, or (iv) extension to a further definite time at the option of the maker or acceptor or automatically upon or after a specified act or event. (c) If an instrument, payable at a fixed date, is also payable upon demand made before the fixed date, the instrument is payable on demand until the fixed date and, if demand for payment is not made before that date, becomes payable at a definite time on the fixed date.