Effective: August 19, 1994
Latest Legislation: Senate Bill 147 - 120th General Assembly
(A) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument.
(B) Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transferee any right of the transferor to enforce the instrument, including any right as a holder in due course, but the transferee cannot acquire rights of a holder in due course by a direct or indirect transfer from a holder in due course if the transferee engaged in fraud or illegality affecting the instrument.
(C) Unless otherwise agreed, if an instrument is transferred for value the transferee has a specifically enforceable right to the unqualified indorsement of the transferor, but negotiation of the instrument does not occur until the indorsement is made by the transferor.
(D) If a transferor purports to transfer less than the entire instrument, negotiation of the instrument does not occur, the transferee of that instrument obtains no rights under this chapter, and the transferee of that instrument has only the rights of a partial assignee.
Structure Ohio Revised Code
Title 13 | Commercial Transactions
Chapter 1303 | Commercial Paper
Section 1303.01 | Definitions - Ucc 3-103.
Section 1303.02 | Subject Matter - Ucc 3-102.
Section 1303.03 | Negotiable Instrument - Ucc 3-104.
Section 1303.04 | Issue of Instrument - Ucc 3-105(b).
Section 1303.05 | Unconditional Promise or Order - Ucc 3-106.
Section 1303.06 | Instrument Payable in Foreign Money - Ucc 3-107.
Section 1303.07 | Payable on Demand or at Definite Time - Ucc 3-108.
Section 1303.08 | Identification of Person to Whom Instrument Is Payable - Ucc 3-110.
Section 1303.09 | Place of Payment - Ucc 3-111.
Section 1303.10 | Payable to Bearer or to Order - Ucc 3-109.
Section 1303.11 | Incomplete Instrument - Ucc 3-115.
Section 1303.12 | Interest - Ucc 3-112.
Section 1303.13 | Date of Instrument - Ucc 3-113.
Section 1303.14 | Joint and Several Liability - Contribution - Ucc 3-116.
Section 1303.15 | Other Agreements Affecting Instrument - Ucc 3-117.
Section 1303.16 | Statute of Limitations - Ucc 3-118.
Section 1303.17 | Contradictory Terms of Instrument - Ucc 3-114.
Section 1303.18 | Notice of Right to Defend Action - Ucc 3-119.
Section 1303.21 | Negotiation - Ucc 3-201.
Section 1303.22 | Transfer of Instrument - Rights Acquired by Transfer - Ucc 3-203.
Section 1303.23 | Negotiation Subject to Rescission - Ucc 3-202.
Section 1303.24 | Indorsement - Ucc 3-204.
Section 1303.25 | Special Indorsement - Blank Indorsement - Anomalous Indorsement - Ucc 3-205.
Section 1303.26 | Restrictive Indorsement - Ucc 3-206.
Section 1303.27 | Reacquisition - Ucc 3-207.
Section 1303.31 | Person Entitled to Enforce Instrument - Ucc 3-301.
Section 1303.32 | Holder in Due Course - Ucc 3-302.
Section 1303.33 | Value and Consideration - Ucc 3-303.
Section 1303.34 | Overdue Instrument - Ucc 3-304.
Section 1303.35 | Defenses and Claims in Recoupment - Ucc 3-305.
Section 1303.37 | Notice of Breach of Fiduciary Duty - Ucc 3-307.
Section 1303.38 | Enforcement of Lost, Destroyed or Stolen Instrument - Ucc 3-309.
Section 1303.39 | Effect of Instrument on Obligation for Which Taken - Ucc 3-310.
Section 1303.40 | Accord and Satisfaction by Use of Instrument - Ucc 3-311.
Section 1303.41 | Signature - Ucc 3-401.
Section 1303.42 | Signature by Representative - Ucc 3-402.
Section 1303.43 | Unauthorized Signature - Ucc 3-403.
Section 1303.44 | Impostors - Fictitious Payees - Ucc 3-404.
Section 1303.45 | Drawee Not Liable on Unaccepted Draft - Ucc 3-408.
Section 1303.46 | Acceptance of Draft - Certified Check - Ucc 3-409.
Section 1303.47 | Employer's Responsibility for Fraudulent Indorsement by Employee - Ucc 3-405.
Section 1303.48 | Acceptance Varying Draft - Ucc 3-410.
Section 1303.50 | Alteration - Ucc 3-407.
Section 1303.51 | Refusal to Pay Cashier's Checks, Teller's Checks and Certified Checks - Ucc 3-411.
Section 1303.52 | Obligation of Issuer of Note or Cashier's Check - Ucc 3-412.
Section 1303.53 | Obligation of Acceptor - Ucc 3-413.
Section 1303.54 | Obligation of Drawer - Ucc 3-414.
Section 1303.55 | Obligation of Indorser - Ucc 3-415.
Section 1303.56 | Transfer Warranties - Ucc 3-416.
Section 1303.57 | Presentment Warranties - Ucc 3-417.
Section 1303.58 | Payment or Acceptance by Mistake - Ucc 3-418.
Section 1303.59 | Instruments Signed for Accommodation - Ucc 3-419.
Section 1303.60 | Conversion of Instrument - Ucc 3-420.
Section 1303.61 | Presentment - Ucc 3-501.
Section 1303.62 | Dishonor - Ucc 3-502.
Section 1303.63 | Notice of Dishonor - Ucc 3-503.
Section 1303.64 | Excused Presentment and Notice of Dishonor - Ucc 3-504.
Section 1303.65 | Evidence of Dishonor - Ucc 3-505.
Section 1303.66 | Discharge and Effect of Discharge - Ucc 3-601.
Section 1303.67 | Payment - Ucc 3-602.
Section 1303.68 | Tender of Payment - Ucc 3-603.
Section 1303.69 | Discharge by Cancellation or Renunciation - Ucc 3-604.
Section 1303.70 | Discharge of Secondary Obligors - Ucc 3-605.