Ohio Revised Code Search

...quire payment directly from him. (C) Unless otherwise agreed the term "letter of credit" or "banker's credit" in a contract for sale means an irrevocable credit issued by a financing agency of good repute and, where the shipment is overseas, of good international repute. The term "confirmed credit" means that the credit must also carry the direct obligation of such an agency which does business in the seller's finan...

...ot subject to the claims of the buyer's creditors until acceptance. Goods held on sale or return are subject to the claims of the buyer's creditor's while in the buyer's possession. (C) Any "or return" term of a contract for sale is to be treated as a separate contract for sale within section 1302.04 of the Revised Code and as contradicting the sale aspect of the contract within the provisions of section 1302.05 o...

...(A) Under a sale on approval unless otherwise agreed: (1) although the goods are identified to the contract the risk of loss and the title do not pass to the buyer until acceptance; and (2) use of the goods consistent with the purpose of trial is not acceptance but failure seasonably to notify the seller of election to return the goods is acceptance, and if the goods conform to the contract acceptance of any part i...

...ing. (C) Such a sale is with reserve unless the goods are in explicit terms put up without reserve. In an auction with reserve the auctioneer may withdraw the goods at any time until he announces completion of the sale. In an auction without reserve, after the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time. In either case a bidde...

...title become material, the following rules apply: (A) Title to goods cannot pass under a contract for sale prior to their identification to the contract pursuant to section 1302.45 of the Revised Code, and unless otherwise explicitly agreed the buyer acquires by their identification a special property as limited by Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code....

...rights of unsecured creditors of the seller with respect to goods which have been identified to a contract for sale are subject to the buyer's rights to recover the goods pursuant to sections 1302.46 and 1302.90 of the Revised Code. (B) A creditor of the seller may treat a sale or an identification of goods to a contract for sale as void if as against the seller a retention of possession by the seller is fraudulent...

... other purchasers of goods and of lien creditors are governed by the provisions of Chapter 1309. and sections 1307.102 to 1307.603 of the Revised Code.

...btains a special property and an insurable interest in goods by identification of existing goods as goods to which the contract refers even though the goods so identified are non conforming and he has an option to return or reject them. Such identification can be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement identification occurs: (1) when the contract ...

...of their price recover them from the seller if: (1) In the case of goods bought for personal, family, or household purposes, the seller repudiates or fails to deliver as required by the contract; or (2) In all cases, the seller becomes insolvent within ten days after receipt of the first installment on their price. (B) The buyer's right to recover the goods under division (A)(1) of this section vests upon acquisit...

...he buyer to take possession; but (2) unless otherwise agreed the buyer must furnish facilities reasonably suited to the receipt of the goods. (B) Where the case is within section 1302.48 of the Revised Code respecting shipment, tender requires that the seller comply with its provisions. (C) Where the seller is required to deliver at a particular destination, tender requires that the seller comply with division...

...hem at a particular destination, then unless otherwise agreed he must: (A) put the goods in the possession of such a carrier and make such a contract for their transportation as may be reasonable having regard to the nature of the goods and other circumstances of the case; and (B) obtain and promptly deliver or tender in due form any document necessary to enable the buyer to obtain possession of the goods or otherw...

...(A) Where the seller has identified goods to 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 th...

... under the draft and any document of title securing it any rights of the shipper in the goods including the right to stop delivery and the shipper's right to have the draft honored by the buyer. (B) The right to reimbursement of a financing agency which has in good faith honored or purchased the draft under commitment to or authority from the buyer is not impaired by subsequent discovery of defects with refer...

...buyer's duty to accept the goods and, unless otherwise agreed, to his duty to pay for them. Tender entitles the seller to acceptance of the goods and to payment according to the contract. (B) Where payment is due and demanded on the delivery to the buyer of goods or documents of title, his right as against the seller to retain or dispose of them is conditional upon his making the payment due.

... Where any tender or delivery by the seller is rejected because non-conforming and the time for performance has not yet expired, the seller may seasonably notify the buyer of his intention to cure and may then within the contract time make a conforming delivery. (B) Where the buyer rejects a non-conforming tender which the seller had reasonable ground to believe would be acceptable with or without money allowance t...

...contract requires or authorizes the seller to ship the goods by carrier: (1) if it does not require the seller to deliver them at a particular destination, the risk of loss passes to the buyer when the goods are duly delivered to the carrier even though the shipment is under reservation as provided in section 1302.49 of the Revised Code; but (2) if it does require the seller to deliver them at a particular d...

...he risk of their loss remains on the seller until cure or acceptance. (B) Where the buyer rightfully revokes acceptance he may to the extent of any deficiency in his effective insurance coverage treat the risk of loss as having rested on the seller from the beginning. (C) Where the buyer as to conforming goods already identified to the contract for sale repudiates or is otherwise in breach before risk of their los...

...(A) Unless otherwise agreed, tender of payment is a condition to the seller's duty to tender and complete any delivery. (B) Tender of payment is sufficient when made by any means or in any manner current in the ordinary course of business unless the seller demands payment in legal tender and gives any extension of time reasonably necessary to procure it. (C) Subject to section 1303.61 of the Revised Code, payment b...

...cuse the 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 ...

...(A) Unless otherwise agreed and subject to division (C) of this section, where goods are tendered or delivered or identified to the contract for sale, the buyer has a right before payment or acceptance to inspect them at any reasonable place and time and in any reasonable manner. When the seller is required or authorized to send the goods to the buyer, the inspection may be after their arrival. (B) Expenses of insp...

...Unless otherwise agreed documents against which a draft is drawn are to be delivered to the drawee on acceptance of the draft if it is payable more than three days after presentment; otherwise, only on payment.

...r dispute: (A) either party on reasonable notification to the other and for the purpose of ascertaining the facts and preserving evidence has the right to inspect, test, and sample the goods including such of them as may be in the possession or control of the other; and (B) the parties may agree to a third party inspection or survey to determine the conformity or condition of the goods and may agree that the findin...

...tion 1302.70 of the Revised Code, and unless otherwise agreed under sections 1302.92 and 1302.93 of the Revised Code, if the goods or the tender of delivery fail in any respect to conform to the contract, the buyer may: (A) reject the whole; or (B) accept the whole; or (C) accept any commercial unit or units and reject the rest.

...delivery or tender. It is ineffective unless the buyer seasonably notifies the seller. (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 t...

...(B), and (C) of this section on perishables, if the seller gives no instructions within a reasonable time after notification of rejection the buyer may store the rejected goods for the seller's account or reship them to him or resell them for the seller's account with reimbursement as provided in divisions (A), (B), and (C) of this section. Such action is not acceptance or conversion.