§ 1303.01 Definitions – UCC 3-103
§ 1303.02 Subject matter – UCC 3-102
§ 1303.03 Negotiable instrument – UCC 3-104
§ 1303.04 Issue of instrument – UCC 3-105(b)
§ 1303.05 Unconditional promise or order – UCC 3-106
§ 1303.06 Instrument payable in foreign money – UCC 3-107
§ 1303.07 Payable on demand or at definite time – UCC 3-108
§ 1303.08 Identification of person to whom instrument is payable – UCC 3-110
§ 1303.09 Place of payment – UCC 3-111
§ 1303.10 Payable to bearer or to order – UCC 3-109
§ 1303.11 Incomplete instrument – UCC 3-115
§ 1303.12 Interest – UCC 3-112
§ 1303.13 Date of instrument – UCC 3-113
§ 1303.14 Joint and several liability – contribution – UCC 3-116
§ 1303.15 Other agreements affecting instrument – UCC 3-117
§ 1303.16 Statute of limitations – UCC 3-118
§ 1303.17 Contradictory terms of instrument – UCC 3-114
§ 1303.18 Notice of right to defend action – UCC 3-119
§ 1303.21 Negotiation – UCC 3-201
§ 1303.22 Transfer of instrument – rights acquired by transfer – UCC 3-203
§ 1303.23 Negotiation subject to rescission – UCC 3-202
§ 1303.24 Indorsement – UCC 3-204
§ 1303.25 Special indorsement – blank indorsement – anomalous indorsement – UCC 3-205
§ 1303.26 Restrictive indorsement – UCC 3-206
§ 1303.27 Reacquisition – UCC 3-207
§ 1303.31 Person entitled to enforce instrument – UCC 3-301
§ 1303.32 Holder in due course – UCC 3-302
§ 1303.33 Value and consideration – UCC 3-303
§ 1303.34 Overdue instrument – UCC 3-304
§ 1303.35 Defenses and claims in recoupment – UCC 3-305
§ 1303.36 Proof of signatures and status as holder in due course – UCC 3-308 – claims to an instrument – UCC 3-306
§ 1303.37 Notice of breach of fiduciary duty – UCC 3-307
§ 1303.38 Enforcement of lost, destroyed or stolen instrument – UCC 3-309
§ 1303.39 Effect of instrument on obligation for which taken – UCC 3-310
§ 1303.40 Accord and satisfaction by use of instrument – UCC 3-311
§ 1303.401 Lost, destroyed or stolen cashier’s check, teller’s check or certified check – UCC 3-312
§ 1303.41 Signature – UCC 3-401
§ 1303.42 Signature by representative – UCC 3-402
§ 1303.43 Unauthorized signature – UCC 3-403
§ 1303.44 Impostors – fictitious payees – UCC 3-404
§ 1303.45 Drawee not liable on unaccepted draft – UCC 3-408
§ 1303.46 Acceptance of draft – certified check – UCC 3-409
§ 1303.47 Employer’s responsibility for fraudulent indorsement by employee – UCC 3-405
§ 1303.48 Acceptance varying draft – UCC 3-410
§ 1303.49 Negligence contributing to forged signature or alteration of instrument – UCC 3-406
§ 1303.50 Alteration – UCC 3-407
§ 1303.51 Refusal to pay cashier’s checks, teller’s checks and certified checks – UCC 3-411
§ 1303.52 Obligation of issuer of note or cashier’s check – UCC 3-412
§ 1303.53 Obligation of acceptor – UCC 3-413
§ 1303.54 Obligation of drawer – UCC 3-414
§ 1303.55 Obligation of indorser – UCC 3-415
§ 1303.56 Transfer warranties – UCC 3-416
§ 1303.57 Presentment warranties – UCC 3-417
§ 1303.58 Payment or acceptance by mistake – UCC 3-418
§ 1303.59 Instruments signed for accommodation – UCC 3-419
§ 1303.60 Conversion of instrument – UCC 3-420
§ 1303.61 Presentment – UCC 3-501
§ 1303.62 Dishonor – UCC 3-502
§ 1303.63 Notice of dishonor – UCC 3-503
§ 1303.64 Excused presentment and notice of dishonor – UCC 3-504
§ 1303.65 Evidence of dishonor – UCC 3-505
§ 1303.66 Discharge and effect of discharge – UCC 3-601
§ 1303.67 Payment – UCC 3-602
§ 1303.68 Tender of payment – UCC 3-603
§ 1303.69 Discharge by cancellation or renunciation – UCC 3-604
§ 1303.70 Discharge of secondary obligors – UCC 3-605
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Terms Used In Ohio Code > Chapter 1303 - Commercial Paper

  • Acceptor: means a drawee who has accepted a draft. See Ohio Code 1303.01
  • Accommodated party: means the party to an instrument for the benefit of which the instrument is issued for value. See Ohio Code 1303.59
  • Accommodation party: means a party to an instrument other than the accommodated party. See Ohio Code 1303.59
  • Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Consumer account: means an account established by an individual primarily for personal, family, or household purposes. See Ohio Code 1303.01
  • Consumer transaction: means a transaction in which an individual incurs an obligation primarily for personal, family, or household purposes. See Ohio Code 1303.01
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Drawee: means a person ordered in a draft to make payment. See Ohio Code 1303.01
  • Drawer: means a person who signs or is identified in a draft as a person ordering payment. See Ohio Code 1303.01
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Issue: means the first delivery of an instrument by the maker or drawer to a holder or nonholder for the purpose of giving rights of the instrument to any person. See Ohio Code 1303.01
  • Issuer: means a maker or drawer of an issued or unissued instrument. See Ohio Code 1303.01
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Maker: means a person who signs or is identified in a note as a person undertaking to pay. See Ohio Code 1303.01
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Order: means a written instruction to pay money signed by the person giving the instruction. See Ohio Code 1303.01
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Party: means a party to an instrument. See Ohio Code 1303.01
  • Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Promise: means a written undertaking to pay money that is signed by the person undertaking to pay. See Ohio Code 1303.01
  • Property: means real and personal property. See Ohio Code 1.59
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Remitter: means a person who purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser. See Ohio Code 1303.01
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Rule: includes regulation. See Ohio Code 1.59
  • Service of process: The service of writs or summonses to the appropriate party.
  • state: means the state of Ohio. See Ohio Code 1.59
  • Statute: A law passed by a legislature.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Undertaking: includes a bond. See Ohio Code 1.02
  • United States: includes all the states. See Ohio Code 1.59
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.