Ohio Revised Code Search

...ed of collateral or entered into a contract for its disposition under section 1309.610 of the Revised Code; or (3) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 1309.622 of the Revised Code.

...t. (C) Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under section 1309.623 of the Revised Code only by an agreement to that effect entered into and authenticated after default.

...rt of a pattern, or consistent with a practice, of noncompliance; or (6) Fails to comply with division (B)(2) of section 1309.616 of the Revised Code. (F) A debtor or consumer obligor may recover damages under division (B) of this section and, in addition, five hundred dollars in each case from a person who, without reasonable cause, fails to comply with a request under section 1309.210 of the Revised Code. A recip...

...In an action arising from a transaction in which the amount of a deficiency or surplus is in issue, the following rules apply: (A) A secured party is not required to prove compliance with sections 1309.601 to 1309.628 of the Revised Code relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party's compliance in issue. (B) If the secured party's ...

...(A) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition, or acceptance was made in a commercially reasonable manner. (B) A disposition of collateral is...

...iciency is not affected, because of any act or omission arising out of the secured party's reasonable belief that a transaction is not a consumer-goods transaction or a consumer transaction or that goods are not consumer goods, if the secured party's belief is based on its reasonable reliance on: (1) A debtor's representation concerning the purpose for which collateral was to be used, acquired, or held; or (2) An o...

...chapter, this chapter applies to a transaction or lien within the scope of this chapter even if the transaction or lien was entered into or created before July 1, 2001. (B) Except as otherwise provided in division (C) of this section and sections 1309.703 to 1309.709 of the Revised Code: (1) Transactions or liens that were not governed by this chapter as it existed before July 1, 2001, were validly entered into or...

...s chapter are satisfied without further action. (B) Except as otherwise provided in section 1309.705 of the Revised Code, if, immediately before July 1, 2001, a security interest is enforceable and would have priority over the rights of a person who becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this chapter are not satisfied on July 1, 2001, the securit...

...Becomes perfected: (1) Without further action on July 1, 2001, if the applicable requirements for perfection under this chapter are satisfied before or on that date; or (2) When the applicable requirements for perfection are satisfied if the requirements are satisfied after July 1, 2001.

...(A) If action, other than the filing of a financing statement, is taken before July 1, 2001, and if the action would have resulted in priority of a security interest over the rights of a person who becomes a lien creditor had the security interest become enforceable before that date, the action is effective to perfect a security interest that attaches under this chapter within one year after that date. An attached se...

...(A) The filing of an initial financing statement in the office specified in section 1309.501 of the Revised Code continues the effectiveness of a financing statement filed before July 1, 2001, if: (1) The filing of an initial financing statement in that office would be effective to perfect a security interest under this chapter. (2) The financing statement filed before July 1, 2001, was filed in an office in anoth...

...(A) As used in this section, "pre-effective-date financing statement" means a financing statement filed before July 1, 2001. (B) On or after July 1, 2001, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as prov...

...A person may file an initial financing statement or a continuation statement under this section if: (A) The secured party of record authorizes the filing; and (B) The filing is necessary under this section: (1) To continue the effectiveness of a financing statement filed before July 1, 2001; or (2) To perfect or continue the perfection of a security interest.

...(A) This chapter determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, the law in effect at the time the priorities of the claims were established determines priority. (B) For purposes of division (A) of section 1309.322 of the Revised Code, as it exists on July 1, 2001, the priority of a security interest that becomes en...

...ments of title under a preexisting contract for sale. "Buying" does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt. (2) "Cancellation" occurs when either party puts an end to the lease contract for default by the other party. (3) "Commercial unit" means a unit of goods that by commercial usage is a single whole for purposes of lease and division of which m...

...8 of the Revised Code apply to any transaction, regardless of form, that creates a lease. (B)(1) A lease, although subject to sections 1310.01 to 1310.78 of the Revised Code, is also subject to Chapter 1548., 4505., or 4585. of the Revised Code, any applicable certificate of title statute of another jurisdiction as provided in section 1310.03 of the Revised Code, and Chapter 1345., 1349., or 1351. of the Revised Cod...

...Subject to the provisions of division (C) of section 1310.32 and division (C) of section 1310.33 of the Revised Code, with respect to goods covered by a certificate of title issued under Chapter 1548., 4505., or 4585. of the Revised Code or the certificate of title law of another jurisdiction, compliance and the effect of compliance or noncompliance with a certificate of title statute shall be governed by the law, in...

...(A) If the law chosen by the parties to a consumer lease is that of a jurisdiction other than a jurisdiction in which the lessee resides at the time the lease agreement becomes enforceable or resides within thirty days after the lease agreement becomes enforceable or in which the goods are to be used, the choice of law is not enforceable. (B) If the judicial forum chosen by the parties to a consumer lease is a forum...

...Any claim or right arising out of an alleged default or breach of warranty may be discharged in whole or in part without consideration by a written waiver or renunciation signed and delivered by the aggrieved party.

...t as a matter of law finds a lease contract or any clause of a lease contract to have been unconscionable at the time it was made, the court may refuse to enforce the lease contract, may enforce the remainder of the lease contract without the unconscionable clause, or may so limit the application of the unconscionable clause as to avoid any unconscionable result. (B) With respect to a consumer lease, if a court as a...

...(A) A term providing that one party or his successor in interest may accelerate payment or performance or require collateral or additional collateral "at will," "when he deems himself insecure," or in words of similar import shall be construed to mean that he has power to do so only if he believes in good faith that the prospect of payment or performance is impaired. (B) With respect to a consumer lease, the burden ...

...(A) A lease contract is not enforceable by way of action or defense unless one of the following applies: (1) The total payments to be made under the lease contract, excluding payments for options to renew or buy, are less than one thousand dollars; (2) There is a writing, signed by the party against whom enforcement is sought or by that party's authorized agent, sufficient to indicate that a lease contract has been...

...Terms with respect to which the confirmatory memoranda of the parties agree or that otherwise are set forth in a writing intended by the parties as a final expression of their agreement with respect to the terms that are included in their agreement may not be contradicted by evidence of any prior agreement or of a contemporaneous oral agreement but may be explained or supplemented by both of the following: (A) Cours...

...al to a writing evidencing a lease contract or an offer to enter into a lease contract does not render the writing a sealed instrument, and the law with respect to sealed instruments does not apply to a lease contract or offer to which a seal has been affixed.

...(A) A lease contract may be made in any manner sufficient to show agreement, including conduct by both parties that recognizes the existence of a lease contract. (B) An agreement sufficient to constitute a lease contract may be found although the moment of its making is undetermined. (C) Although one or more terms of a lease contract are left open, a lease contract does not fail for indefiniteness if the parties ha...