Ohio Revised Code Search

...urchaser has such power even though: (1) The transferor was deceived as to the identity of the purchaser, or (2) The delivery was in exchange for a check which is later dishonored, or (3) It was agreed that the transaction was to be a "cash sale", or (4) The delivery was procured through fraud punishable as larcenous under the criminal law. (B) Any entrusting of possession of goods to a merchant who deals ...

...icit agreement identification occurs: (1) when the contract is made if it is for the sale of goods already existing and identified; (2) if the contract is for the sale of future goods other than those described in division (A) (3) of this section, when goods are shipped, marked, or otherwise designated by the seller as goods to which the contract refers; (3) when the crops are planted or otherwise become growing c...

... the contract by or before shipment: (1) the seller's procurement of a negotiable bill of lading to the seller's own order or otherwise reserves in the seller a security interest in the goods. The seller's procurement of the bill to the order of a financing agency or of the buyer indicates in addition only the seller's expectation of transferring that interest to the person named. (2) a non-negotiable bill of...

... buyer from so making payment unless: (1) The nonconformity appears without inspection; or (2) Despite tender of the required documents the circumstances would justify injunction against honor under division (B) of section 1305.08 of the Revised Code. (B) Payment pursuant to division (A) of this section does not constitute an acceptance of goods or impair the buyer's right to inspect or any of the buyer's remedies...

...e provisions of division (C) of section 1302.34 of the Revised Code, the buyer is not entitled to inspect the goods before payment of the price when the contract provides: (1) for delivery "C.O.D" or on other like terms; or (2) for payment against documents of title, except where such payment is due only after the goods are to become available for inspection. (D) A place or method of inspection fixed by the partie...

...B) Subject to the provisions of section 1302.62 of the Revised Code: (1) after rejection any exercise of ownership by the buyer with respect to any commercial unit is wrongful as against the seller; and (2) if the buyer has before rejection taken physical possession of goods in which he does not have a security interest under the provisions of division (C) of section 1302.85 of the Revised Code, he is under a duty ...

...fy rejection or to establish breach: (1) where the seller could have cured it if stated seasonably; or (2) between merchants when the seller has after rejection made a request in writing for a full and final written statement of all defects on which the buyer proposes to rely. (B) Payment against documents made without reservation of rights precludes recovery of the payment for defects apparent in the docume...

...tance of goods occurs when the buyer: (1) after a reasonable opportunity to inspect the goods signifies to the seller that the goods are conforming or that he will take or retain them in spite of their non-conformity; or (2) fails to make an effective rejection as provided in division (A) of section 1302.61 of the Revised Code, but such acceptance does not occur until the buyer has had a reasonable opportunity to i...

... value to him if he has accepted it: (1) on the reasonable assumption that its non-conformity would be cured and it has not been seasonably cured; or (2) without discovery of such non-conformity if his acceptance was reasonably induced either by the difficulty of discovery before acceptance or by the seller's assurances. (B) Revocation of acceptance must occur within a reasonable time after the buyer discovers or...

...r an allocation justified under section 1302.73 of the Revised Code, he may by written notification to the seller as to any delivery concerned, and where the prospective deficiency substantially impairs the value of the whole contract under section 1302.70 of the Revised Code relating to breach of installment contracts, then also as to the whole: (1) terminate and thereby discharge any unexecuted portion of the cont...

...(A) An aggrieved seller under section 1302.77 of the Revised Code may: (1) identify to the contract conforming goods not already identified if at the time he learned of the breach they are in his possession or control; (2) treat as the subject of resale goods which have demonstrably been intended for the particular contract even though those goods are unfinished. (B) Where the goods are unfinished an aggrieved ...

... Under the conditions stated in section 1302.77 of the Revised Code on seller's remedies, the seller may resell the goods concerned or the undelivered balance thereof. Where the resale is made in good faith and in a commercially reasonable manner the seller may recover the difference between the resale price and the contract price together with any incidental damages allowed under section 1302.84 of the Revised Code,...

...th any incidental damages under section 1302.84 of the Revised Code, the price: (1) of goods accepted or of conforming goods lost or damaged within a commercially reasonable time after risk of their loss has passed to the buyer; and (2) of goods identified to the contract if the seller is unable after reasonable effort to resell them at a reasonable price or the circumstances reasonably indicate that such effort wi...

...ing from the seller's breach include: (1) any loss resulting from general or particular requirements and needs of which the seller at the time of contracting had reason to know and which could not reasonably be prevented by cover or otherwise; and (2) injury to person or property proximately resulting from any breach of warranty.

... and (C) of this section and of section 1302.92 of the Revised Code on liquidation and limitation of damages, both of the following apply: (1) The agreement may provide for remedies in addition to or in substitution for those provided in sections 1302.01 to 1302.98 of the Revised Code and may limit or alter the measure of damages recoverable under those sections, as by limiting the buyer's remedies to return of the ...

...is section does not alter sections 2305.15 and 2305.16 of the Revised Code on tolling of the statute of limitations, nor does it apply to causes of action which have accrued before July 1, 1962.

...the purposes of division (A) of section 1303.03 of the Revised Code, a promise or order is unconditional unless it states any of the following: (1) An express condition to payment; (2) That the promise or order is subject to or governed by another record ; (3) That rights or obligations with respect to the promise or order are stated in another record. A reference to another record does not of itself make the...

...bject to any of the following rights: (1) Prepayment; (2) Acceleration; (3) Extension at the option of the holder; (4) 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...

...nstrument, the following rules apply: (1) If an instrument is payable to an account and the account is identified only by number, the instrument is payable to the person to whom the account is payable. If an instrument is payable to an account identified by number and by the name of a person, the instrument is payable to the named person, whether or not that person is the owner of the account identified by number. ...

...earer" if any of the following apply: (1) It states that it is payable to the bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment. (2) It does not state a payee. (3) It states that it is payable to "cash" or to the order of "cash" or otherwise indicates that it is not payable to an identified person. (B) A promise or order that is no...

...trument, both of the following apply: (1) An instrument is not payable with interest. (2) Interest on an interest-bearing instrument is payable from the date of the instrument. (B) Interest may be stated in an instrument as a fixed or variable amount of money, or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and m...

...rs after the cause of action accrues: (1) An action for conversion of an instrument, an action for money had and received, or a similar action based on conversion; (2) An action for breach of warranty; (3) An action to enforce an obligation, duty, or right arising under this chapter and not governed by this section.

...ined in any of the following manners: (1) From an infant, a corporation exceeding its powers, or any other person without capacity; (2) By fraud, duress, or mistake of any kind; (3) As part of an illegal transaction; (4) In breach of duty. (B) To the extent permitted by other law, negotiation may be rescinded or may be subject to other remedies, but those remedies may not be asserted against a subsequent holder ...

...(A)(1) "Indorsement" means a signature, other than that of a signer as maker, drawer, or acceptor, that alone or accompanied by other words is made on an instrument for any of the following purposes: (a) To negotiate the instrument; (b) To restrict payment of the instrument; (c) To incur the indorser's liability on the instrument. (2) Regardless of the intent of the signer, a signature and its accompanying words ...

...t means any of the following persons: (1) The holder of the instrument; (2) A nonholder in possession of the instrument who has the rights of a holder; (3) A person not in possession of the instrument who is entitled to enforce the instrument pursuant to section 1303.38 or division (D) of section 1303.58 of the Revised Code. (B) A person may be a "person entitled to enforce" the instrument even though the person ...