Ohio Revised Code Search

...etermined by the agreement and sections 1302.01 to 1302.98, inclusive, of the Revised Code, and in particular: (1) tender must be at a reasonable hour, and if it is of goods they must be kept available for the period reasonably necessary to enable the buyer to take possession; but (2) unless otherwise agreed the buyer must furnish facilities reasonably suited to the receipt of the goods. (B) Where the case is...

...his section and division (D) of section 1303.05 of the Revised Code, "holder in due course" means the holder of an instrument if both of the following apply: (1) The instrument when issued or negotiated to the holder does not bear evidence of forgery or alteration that is so apparent, or is not otherwise so irregular or incomplete as to call into question its authenticity; (2) The holder took the instrument under a...

...t is subject to all of the following: (1) A defense of the obligor based on any of the following: (a) Infancy of the obligor to the extent it is a defense to a simple contract; (b) Duress, lack of legal capacity, or illegality of the transaction that, under other law, nullifies the obligation of the obligor; (c) Fraud that induced the obligor to sign the instrument with neither knowledge nor reasonable opportunit...

...(A) As used in this section: (1) "Fiduciary" means an agent, trustee, partner, corporate officer, corporate director, or other representative owing a fiduciary duty with respect to an instrument. (2) "Represented person" means the principal, beneficiary, partnership, corporation, or other person to whom the fiduciary duty with respect to an instrument referred to in division (A)(1) of this section is owed. (B) If ...

...ntitled to enforce the instrument. (B)(1) Subject to division (E) of this section, a note is paid to the extent payment is made by or on behalf of a party obliged to pay the note to a person that formerly was entitled to enforce the note only if at the time of the payment the party obliged to pay has not received adequate notification that the note has been transferred and that payment is to be made to the transfere...

...(A) As used in sections 1304.01 to 1304.40 of the Revised Code, unless the context requires otherwise: (1) "Account" means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or similar account, other than an account evidenced by a certificate of deposit. (2) "Afternoon" means the period of day between noon and midnight. (3) "Banking day" means the part of a day on...

...und by it under the law of agency. (B)(1) If a bank and its customer have agreed that the authenticity of payment orders issued to the bank in the name of the customer as sender will be verified pursuant to a security procedure, a payment order received by the receiving bank is effective as the order of the customer, whether or not authorized, if both of the following apply: (a) The security procedure is a commerci...

...or, and any of the following applies: (1) The payment order erroneously instructed payment to a beneficiary not intended by the sender. (2) The payment order erroneously instructed payment in an amount greater than the amount intended by the sender. (3) The payment order was an erroneously transmitted duplicate of a payment order previously sent by the sender. (B)(1) If the sender proves that the sender or a pers...

...(A)(1) Divisions (A)(2) and (3) of this section apply to a payment order identifying an intermediary bank or the beneficiary's bank only by an identifying number. (2) The receiving bank may rely on the number as the proper identification of the intermediary or beneficiary's bank and need not determine whether the number identifies a bank. (3) The sender shall compensate the receiving bank for any loss and expenses ...

...Except as otherwise provided in section 1305.08 of the Revised Code, an issuer shall honor a presentation that, as determined by the standard practice referred to in division (E) of this section, appears on its face strictly to comply with the terms and conditions of the letter of credit. Except as otherwise provided in section 1305.12 of the Revised Code and, unless otherwise agreed with the applicant, an issuer sha...

...neficiary on the issuer or applicant: (1) The issuer shall honor the presentation, if honor is demanded by (a) a nominated person who has given value in good faith and without notice of forgery or material fraud, (b) a confirmer who has honored its confirmation in good faith, (c) a holder in due course of a draft drawn under the letter of credit which was taken after acceptance by the issuer or nominated person, or ...

...(A) Subject to section 1306.11 of the Revised Code, each state agency shall determine if, and the extent to which, it will send and receive electronic records and electronic signatures to and from other persons and otherwise create, generate, communicate, store, process, use, and rely upon electronic records and electronic signatures. (B)(1) Subject to division (B)(2) of this section, a state agency may waive a requ...

... adopt rules in accordance with section 111.15 of the Revised Code setting forth all of the following: (1) The minimum requirements for the method of creation, maintenance, and security of electronic records and electronic signatures; (2) If electronic records must be signed by electronic means, all of the following: (a) The type of electronic signature required; (b) The manner and format in which the electronic ...

...on has notice of an adverse claim if: (1) The person knows of the adverse claim; (2) The person is aware of facts sufficient to indicate that there is a significant probability that the adverse claim exists and deliberately avoids information that would establish the existence of the adverse claim; or (3) The person has a duty, imposed by statute or rule, to investigate whether an adverse claim exists, and the inv...

...y is delivered to the purchaser, and: (1) The certificate is indorsed to the purchaser or in blank by an effective indorsement; or (2) The certificate is registered in the name of the purchaser, upon original issue or registration of transfer by the issuer. (C) A purchaser has "control" of an uncertificated security if: (1) The uncertificated security is delivered to the purchaser; or (2) The issuer has agreed t...

...warrants that at the time of signing: (1) The signature was genuine; (2) The signer was an appropriate person to indorse, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person; and (3) The signer had legal capacity to sign. (B) A person who guarantees a signature of the originator of an instruction warrants that at the time of signing: (1) The signature was...

...l if it identifies the collateral by: (1) Specific listing; (2) Category; (3) Except as otherwise provided in division (E) of this section, a type of collateral defined in Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code; (4) Quantity; (5) Computational or allocational formula or procedure; or (6) Except as otherwise provided in division (C) of this section, any oth...

...his chapter applies to the following: (1) A transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract; (2) An agricultural lien; (3) A sale of accounts, chattel paper, payment intangibles, or promissory notes; (4) A consignment; (5) A security interest arising under section 1302.42 or 1302.49, division (C) of section 1302.85, or division (E) of section 131...

...th respect to the collateral only if: (1) Value has been given; (2) The debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party; and (3) One of the following conditions is met: (a) The debtor has authenticated a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land conce...

...d party has possession of collateral: (1) Reasonable expenses, including the cost of insurance and payment of taxes or other charges, incurred in the custody, preservation, use, or operation of the collateral are chargeable to the debtor and are secured by the collateral; (2) The risk of accidental loss or damage is on the debtor to the extent of a deficiency in any effective insurance coverage; (3) The secure...

... certificated securities under section 1308.27 of the Revised Code. (B) With respect to goods covered by a certificate of title issued by this state, a secured party may perfect a security interest in the goods by taking possession of the goods only in the circumstances described in division (D) of section 1309.316 of the Revised Code. (C) With respect to collateral other than certificated securities and goo...

... possession of the real property and: (1) The security interest is a purchase money security interest; (2) The interest of the encumbrancer or owner arises before the goods become fixtures; and (3) The security interest is perfected by a fixture filing before the goods become fixtures or within twenty days thereafter. (E) A perfected security interest in fixtures has priority over a conflicting interest of an e...

... statement is sufficient only if it: (1) Provides the name of the debtor; (2) Provides the name of the secured party or a representative of the secured party; and (3) Indicates the collateral covered by the financing statement. (B) Except as otherwise provided in division (B) of section 1309.501 of the Revised Code, to be sufficient, a financing statement that covers as-extracted collateral or timber to be c...

...ly provides the name of the debtor: (1) Except as otherwise provided in division (A)(3) of this section, if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that is stated to be the registered organization's name on the public organic record most recently filed with or issued or enacted by the reg...

...(A) Subject to section 1309.509 of the Revised Code, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to division (E) of this section, otherwise amend the information provided in, a financing statement by filing an amendment that: (1) Identifies, by its file number, the initial financing statement to which the amendment relates; and (2) If the amendment relat...