Ohio Revised Code Search

...st purchasers of the goods, and against creditors of the parties.

... Code, those sections apply whether the lessor or a third party has title to the goods and whether the lessor, the lessee, or a third party has possession of the goods, notwithstanding any section of the Revised Code, statute of another jurisdiction, or rule of law that possession or the absence of possession is fraudulent.

...ally impairs the prospect of obtaining return performance by, materially changes the duty of, or materially increases the burden or risk imposed on, the other party to the lease contract under division (D) of this section. (D) Subject to division (C) of this section and section 1309.407 of the Revised Code, both of the following apply: (1) If a transfer is made that is made an event of default under a lease agree...

...ssee for value, but only to the extent set forth in the preceding sentence. If goods have been delivered under a transaction of purchase, the lessor has that power even though any of the following applies: (1) The lessor's transferor was deceived as to the identity of the lessor. (2) The delivery was in exchange for a check that is later dishonored. (3) It was agreed that the transaction was to be a "cash sale." ...

...ssee for value, but only to the extent set forth in the preceding sentence. When goods have been delivered under a transaction of lease, the lessee has that power even though any of the following applies: (1) The lessor was deceived as to the identity of the lessee. (2) The delivery was in exchange for a check that is later dishonored. (3) The delivery was procured through fraud punishable as a theft offense under...

...ials with respect to goods subject to a lease contract, a lien upon those goods in the possession of that person given by a section of the Revised Code, statute of another jurisdiction, or rule of law for those materials or services takes priority over any interest of the lessor or lessee under the lease contract or sections 1310.01 to 1310.78 of the Revised Code, unless the lien is created by a section of the Revise...

...34 of the Revised Code, a creditor of a lessee takes subject to the lease contract. (B) Except as otherwise provided in division (C) of this section and in sections 1310.34 and 1310.36 of the Revised Code, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable. (C) Except as otherwise provided in sections...

...nable time after the lease contract becomes enforceable is not fraudulent. (B) Nothing in sections 1310.01 to 1310.78 of the Revised Code impairs the rights of creditors of a lessor if the lease contract becomes enforceable, not in current course of trade but in satisfaction of or as security for a preexisting claim for money, security, or the like, and is made under circumstances that under any section of the Revis...

... or readily removable replacements of domestic appliances that are goods subject to a consumer lease and, before the goods become fixtures, the lease contract is enforceable. (2) The conflicting interest is a lien on the real estate obtained by legal or equitable proceedings after the lease contract is enforceable. (3) The encumbrancer or owner has consented in writing to the lease or has disclaimed an interest in ...

...ter the goods became accessions; (2) A creditor with a security interest in the whole perfected before the lease contract was made, to the extent that the creditor makes subsequent advances without knowledge of the lease contract. (E) When under division (B) or (C) and division (D) of this section a lessor or a lessee of accessions holds an interest that is superior to all interests in the whole, the lessor or the ...

...ination by agreement by any person entitled to priority.

...he has not already received the agreed return. (C) A repudiation of the lease contract occurs if assurance of due performance adequate under the circumstances of the particular case is not provided to the insecure party within a reasonable time, not to exceed thirty days after receipt of a demand by the other party. (D) Between merchants, the reasonableness of grounds for insecurity and the adequacy of any assuranc...

...ract with respect to a performance not yet due under the lease contract, the loss of which performance will substantially impair the value of the lease contract to the other party, the aggrieved party may do any of the following: (A) For a commercially reasonable time, await retraction of repudiation and performance by the repudiating party; (B) Make demand pursuant to section 1310.40 of the Revised Code and await ...

...ing party can retract the repudiation unless, since the repudiation, the aggrieved party has canceled the lease contract, materially changed the aggrieved party's position, or otherwise indicated that the aggrieved party considers the repudiation final. (B) Retraction may be by any method that clearly indicates to the aggrieved party that the repudiating party intends to perform under the lease contract and includes...

...es fail, the agreed type of carrier becomes unavailable, or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance shall be tendered and accepted. (B) If the agreed means or manner of payment fails because of domestic or foreign governmental regulation, both of the following apply: (1) The lessor may withhold or s...

...tic governmental regulation or order, whether or not the regulation or order later proves to be invalid. (B) If the causes mentioned in division (A) of this section affect only part of the lessor's or the supplier's capacity to perform, he shall allocate production and deliveries among his customers but at his option may include regular customers not then under contract for sale or lease as well as his own requirem...

...(A) If the lessee receives notification of a material or indefinite delay or of an allocation justified under section 1310.44 of the Revised Code, the lessee, by written notification to the lessor as to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole lease contract is substantially impaired as provided in section 1310.56 of the Revised Code, may d...

...: (1) It is effective and enforceable between the parties and by or against third parties, including assignees of the parties. (2) It is not subject to cancellation, termination, modification, repudiation, excuse, or substitution without the consent of the party to whom it runs. (C) This section does not affect the validity under any other law of a covenant in any lease contract making the lessee's promises irrevo...

...(A) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and sections 1310.01 to 1310.78 of the Revised Code. (B) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement has rights and remedies as provided in sections 1310.01 to 1310.78 of the Revised Code and, except as limited by those sections, as provided in the...

...1 to 1310.78 of the Revised Code or the lease agreement, the lessor or lessee in default under the lease contract is not entitled to notice of default or notice of enforcement from the other party to the lease agreement.

....01 to 1310.78 of the Revised Code, the lease agreement may include rights and remedies for default in addition to or in substitution for those provided in sections 1310.01 to 1310.78 of the Revised Code and may limit or alter the measure of damages recoverable under those sections. (B) Resort to a remedy provided under sections 1310.01 to 1310.78 of the Revised Code or in the lease agreement is optional unless the ...

...n (C) of this section is subject to offset to the extent the lessor establishes both of the following: (1) A right to recover damages under sections 1310.01 to 1310.78 of the Revised Code other than under division (A) of this section; (2) The amount or value of any benefits received by the lessee directly or indirectly by reason of the lease contract.

...urvives, and the cancelling party also retains any remedy for default of the whole lease contract or any unperformed balance. (B) On termination of the lease contract, all obligations that are still executory on all parties are discharged, but any right based on prior default or performance survives. (C) Unless the contrary intention clearly appears, expressions of "cancellation," "rescission," or the like of the l...

...(A) An action for default under a lease contract, including an action for a breach of warranty or indemnity, shall be commenced within four years after the cause of action accrued. By the original lease contract, the parties may reduce the period of limitation to not less than one year. (B) A cause of action for default accrues when the act or omission on which the default or breach of warranty is based is or should...

...lease agreement and prevailing at the times specified in those sections. (B) If evidence of rent for the use of the goods concerned for a lease term identical to the remaining lease term of the original lease agreement and prevailing at the times or places described in sections 1310.01 to 1310.78 of the Revised Code is not readily available, the rent prevailing within any reasonable time before or after the time des...