Ohio Revised Code Search

...y operation of law under the standard practice referred to in division (E) of section 1305.07 of the Revised Code or, in the absence of such a practice, compliance with other reasonable procedures sufficient to protect the issuer. (C) An issuer is not obliged to determine whether a purported successor is a successor of a beneficiary or whether the signature of a purported successor is genuine or authorized. (D) Hon...

...(A) As used in this section, "proceeds of a letter of credit" means the cash, check, accepted draft, or other item of value paid or delivered upon honor or giving of value by the issuer or any nominated person under the letter of credit. The term does not include a beneficiary's drawing rights or documents presented by the beneficiary. (B) A beneficiary may assign its right to part or all of the proceeds of a letter...

...An action to enforce a right or obligation arising under this chapter must be commenced within one year after the expiration date of the relevant letter of credit or one year after the cause of action accrues, whichever occurs later. A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach.

...ssuer, nominated person, or adviser for action or omission is governed by the law of the jurisdiction chosen by an agreement in the form of a record signed or otherwise authenticated by the affected parties in the manner provided in section 1305.03 of the Revised Code or by a provision in the person's letter of credit, confirmation, or other undertaking. The jurisdiction whose law is chosen need not bear any relation...

...(A) An issuer that honors a beneficiary's presentation is subrogated to the rights of the beneficiary to the same extent as if the issuer were a secondary obligor of the underlying obligation owed to the beneficiary and of the applicant to the same extent as if the issuer were the secondary obligor of the underlying obligation owed to the applicant. (B) An applicant that reimburses an issuer is subrogated to the rig...

...(A) An issuer or nominated person has a security interest in a document presented under a letter of credit to the extent that the issuer or nominated person honors or gives value for the presentation. (B) So long as and to the extent that an issuer or nominated person has not been reimbursed or has not otherwise recovered the value given with respect to a security interest in a document under division (A) of this se...

...on, joint venture, governmental agency, public corporation, or any other legal or commercial entity. (M) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. (N) "Security procedure" means a procedure employed for the purpose of verifying that an electronic signature, record, or performance is that of a specific ...

...ectronic signatures relating to a transaction. (B) Sections 1306.01 to 1306.23 of the Revised Code do not apply to a transaction to the extent it is governed by any of the following: (1) A law governing the creation and execution of wills, codicils, or testamentary trusts; (2) Chapter 1301., except section 1301.306, and Chapters 1303., 1304., 1305., 1307., 1308., and 1309. of the Revised Code.

...Sections 1306.01 to 1306.23 of the Revised Code apply to any electronic record or electronic signature created, generated, sent, communicated, received, or stored on or after the effective date of sections 1306.01 to 1306.23 of the Revised Code.

... of the Revised Code apply only to transactions between parties each of which has agreed to conduct transactions by electronic means. Whether the parties agree to conduct a transaction by electronic means is determined from the context and surrounding circumstances, including the parties' conduct. (C) A party that agrees to conduct a transaction by electronic means may refuse to conduct other transactions by electro...

...d cited as the "uniform electronic transactions act" and shall be construed and applied as follows: (A) To facilitate electronic transactions consistent with other applicable law; (B) To be consistent with reasonable practices concerning electronic transactions and with the continued expansion of those practices; (C) To effectuate its general purpose to make uniform the law with respect to the subject of sections ...

...e it is in electronic form. (B) A contract may not be denied legal effect or enforceability solely because an electronic record was used in its formation. (C) If a law requires a record to be in writing, an electronic record satisfies the law. (D) If a law requires a signature, an electronic signature satisfies the law.

...e parties have agreed to conduct a transaction by electronic means and a law requires a person to provide, send, or deliver information in writing to another person, the requirement is satisfied if the information is provided, sent, or delivered, as the case may be, in an electronic record capable of retention by the recipient at the time of receipt. An electronic record is not capable of retention by the recipient i...

... attributable to a person if it was the act of the person. The act of the person may be shown in any manner, including a showing of the efficacy of any security procedure applied to determine the person to which the electronic record or electronic signature is attributable. (B) The effect of an electronic record or electronic signature attributed to a person under division (A) of this section shall be determined fro...

... transmission between parties to a transaction, both of the following apply: (1) If the parties have agreed to use a security procedure to detect changes or errors and one party has conformed to the procedure, but the other party has not, and the nonconforming party would have detected the change or error had that party also conformed, the conforming party may avoid the effect of the changed or erroneous electronic ...

... the person authorized to perform those acts, together with all other information required to be included by other applicable law, is attached to or logically associated with the signature or record.

...it, or similar purposes, unless a law enacted after the effective date of this section specifically prohibits the use of an electronic record for the specified purpose. (G) This section does not preclude a governmental agency of this state from specifying additional requirements for the retention of a record subject to the agency's jurisdiction.

...In a proceeding, evidence of a record or signature may not be excluded solely because it is in electronic form.

...In an automated transaction, all of the following apply: (A) A contract may be formed by the interaction of electronic agents of the parties, even if no individual was aware of or reviewed the electronic agents' actions or the resulting terms and agreements. (B) A contract may be formed by the interaction of an electronic agent and an individual, acting on the individual's own behalf or for another person, includin...

...est relationship to the underlying transaction. (b) If the sender or the recipient does not have a place of business, the place of business is the sender's or recipient's residence, as the case may be. (E) An electronic record is received under division (B) of this section even if no individual is aware of its receipt. (F) Receipt of an electronic acknowledgment from an information processing system described in d...

...an equivalent obligor under equivalent records or writings under the uniform commercial code. (F)(1) If requested by a person against which enforcement is sought, the person seeking to enforce the transferable record shall provide reasonable proof that the person is in control of the transferable record. (2) Proof required by division (F)(1) of this section may include access to the authoritative copy of the ...

...(A) A provision of a nonelectronic contract involving a consumer and to which a state agency or a county office is not a party that authorizes the conducting of a transaction or any part of a transaction by electronic means is unenforceable against the consumer, unless the consumer separately signs the provision. (B) A consumer's agreement to conduct a transaction or a part of a transaction electronically shall not ...

...ute or regulation is effective for transactions covered by the statute or regulation. (2) Except as otherwise provided in division (B)(1) of this section, the commercial reasonableness and effectiveness is to be determined in light of the purposes of the security procedure and the commercial circumstances at the time the parties agree to or adopt the procedure. (C) As used in this section, "state agency" means ever...

...d at any time with the right or duty to act for the party with respect to such electronic signature or electronic record or security procedure. (2) The person lawfully obtained access to transmitting facilities of the party, if such access facilitated the misuse of the security procedure. (3) The person obtained, from a source controlled by the party, information facilitating misuse of the security procedure. (C) ...

...f the Revised Code do not apply to transactions to which a consumer is a party.