Ohio Revised Code Search

...(A) Except as otherwise stated in this section, the right to enforce the obligation of a party to pay an instrument 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 ob...

...(A) Unless specifically denied in the pleadings, in an action with respect to an instrument, the authenticity of, and authority to make, each signature on an instrument is admitted. If the validity of a signature is denied in the pleadings, the burden of establishing validity is on the party claiming validity but the signature is presumed to be authentic and authorized unless the action is to enforce the liability of...

...(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 ...

...(A) A person not in possession of an instrument is entitled to enforce the instrument if all of the following apply: (1) The person seeking to enforce the instrument was entitled to enforce the instrument when loss of possession occurred or has directly or indirectly acquired ownership of the instrument from a person who was entitled to enforce the instrument when loss of possession occurred. (2) The loss of posses...

...(A) Unless otherwise agreed, if a certified check, cashier's check, or teller's check is taken for an obligation, the obligation is discharged to the same extent discharge would result if an amount of money equal to the amount of the instrument were taken in payment of the obligation. The discharge of the obligation does not affect any liability that the obligor may have as an indorser of the instrument taken in paym...

...If a person against whom a claim is asserted proves that that person in good faith tendered an instrument to the claimant as full satisfaction of the claim, that the amount of the claim was unliquidated or subject to a bona fide dispute, and that the claimant obtained payment of the instrument, all the following apply: (A) Unless division (B) of this section applies, the claim is discharged if the person against who...

...(A) As used in this section: (1) "Check" means a cashier's check, teller's check, or certified check. (2) "Claimant" means a person who claims the right to receive the amount of a check that was lost, destroyed, or stolen. (3) "Declaration of loss" means a statement made in a record, under penalty of perjury, to the effect that all of the following are true: (a) The declarant lost possession of a check; (b) Th...

...(A) A person is not liable on an instrument unless the person signed the instrument or the person is represented by an agent or representative who signed the instrument and the signature is binding on the represented person pursuant to section 1303.42 of the Revised Code. (B) A signature may be made manually or by means of a device or machine and by the use of any name, including a trade or assumed name, or by a wor...

...(A) If a person acting, or purporting to act, as a representative signs an instrument by signing either the name of the represented person or the name of the signer, the represented person is bound by the signature to the same extent the represented person would be bound if the signature were on a simple contract. If the represented person is so bound, the signature of the representative is the "authorized signature ...

...(A) Unless otherwise provided in this chapter or sections 1304.01 to 1304.40 of the Revised Code, an unauthorized signature is ineffective except as the signature of the unauthorized signer in favor of a person who in good faith pays the instrument or takes it for value. An unauthorized signature may be ratified for all purposes of this chapter. (B) If the signature of more than one person is required to constitute ...

...(A) If an impostor, by use of the mails or otherwise, induces the issuer of an instrument to issue the instrument to the impostor, or to a person acting in concert with the impostor, by impersonating the payee of the instrument or a person authorized to act for the payee, an indorsement of the instrument by any person in the name of the payee is effective as the indorsement of the payee in favor of a person who, in g...

...A check or other draft does not of itself operate as an assignment of any funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until he accepts it.

...(A) "Acceptance" means the drawee's signed agreement to pay the draft as presented. It must be written on the draft, and may consist of his signature alone. Acceptance may be made at any time and becomes effective when notification is given pursuant to instructions or the accepted draft is delivered for the purpose of giving rights on the acceptance to any person. (B) A draft may be accepted although it has not bee...

...(A) As used in this section: (1) "Employee" includes an independent contractor and an employee of an independent contractor retained by the employer. (2) "Fraudulent indorsement" means either of the following: (a) In the case of an instrument payable to the employer, a forged indorsement purporting to be that of the employer; (b) In the case of an instrument with respect to which the employer is the issuer, a for...

...(A) If the terms of a drawee's acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as dishonored in which case the drawee is entitled to cancel his acceptance. (B) The terms of the draft are not varied by an acceptance to pay at any particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at such bank ...

...(A) A person whose failure to exercise ordinary care substantially contributes to an alteration of an instrument or to the making of a forged signature on an instrument is precluded from asserting the alteration or the forgery against a person who, in good faith, pays the instrument or takes it for value or for collection. (B) Under division (A) of this section, if the person asserting the preclusion fails to exerci...

...(A) "Alteration" means either of the following: (1) An unauthorized change in an instrument that purports to modify in any respect the obligation of a party. (2) An unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party. (B) Except as provided in division (C) of this section, an alteration fraudulently made discharges a party whose obligation is ...

...(A) As used in this section, "obligated bank" means the acceptor of a certified check or the issuer of a cashier's check or teller's check bought from the issuer. (B) If the obligated bank wrongfully refuses to pay a cashier's check or certified check, wrongfully stops payment of a teller's check, or wrongfully refuses to pay a dishonored teller's check, the person asserting the right to enforce the check is entitle...

...The issuer of a notice or cashier's check or other draft drawn on the drawer is obliged to pay the instrument in accordance with either of the following: (A) According to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder; (B) If the issuer signed an incomplete instrument, according to its terms when completed in accordance with sections 1303.11 and 13...

...(A) The acceptor of a draft is obliged to pay the draft in accordance with one of the following: (1) According to its terms at the time it was accepted, even though the acceptance states that the draft is payable "as originally drawn" or equivalent terms; (2) If the acceptance varies the terms of the draft, according to the terms of the draft as varied; (3) If the acceptance is of a draft that is an incomplete ins...

...(A) This section does not apply to cashier's checks or other drafts drawn on the drawer. (B) If an unaccepted draft is dishonored, the drawer is obliged to pay the draft in accordance with either of the following: (1) According to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder; (2) If the drawer signed an incomplete instrument, according to its terms wh...

...(A) Subject to divisions (B), (C), (D), and (E) of this section and to division (D) of section 1303.59 of the Revised Code, if an instrument is dishonored, an indorser is obliged to pay the amount due on the instrument according to the terms of the instrument at the time it was indorsed, or, if the indorser indorsed an incomplete instrument, according to its terms when completed, to the extent required by sections 13...

...(A) A person who transfers an instrument for consideration warrants all of the following to the transferee and, if the transfer is by indorsement, to any subsequent transferee: (1) The warrantor is a person entitled to enforce the instrument. (2) All signatures on the instrument are authentic and authorized. (3) The instrument has not been altered. (4) The instrument is not subject to a defense or claim in re...

...(A) If an unaccepted draft is presented to the drawee for payment or acceptance and the drawee pays or accepts the draft, the person obtaining payment or acceptance, at the time of presentment, and a previous transferor of the draft, at the time of transfer, warrant to the drawee making payment or accepting the draft in good faith all of the following: (1) That the warrantor is, or was, at the time the warrantor tra...

...(A) Except as provided in division (C) of this section, if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that payment of the draft had not been stopped pursuant to section 1304.32 of the Revised Code, or that the signature of the drawer of the draft was authorized, the drawee may recover the amount of the draft from the person to whom or for whose benefit payment was made...