Ohio § 1303.23 Negotiation subject to rescission - UCC 3-202

Ohio Statutes

§ 1303.23 — Negotiation subject to rescission - UCC 3-202

Ohio § 1303.23

Title 13Commercial Transactions

Ch. 1303Commercial Paper

This text of Ohio § 1303.23 (Negotiation subject to rescission - UCC 3-202) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 1303.23 (2026).

Text

(A)Negotiation is effective even if it is obtained in any of the following manners:

(1)From an infant, a corporation exceeding its powers, or any other person without capacity;

(2)By fraud, duress, or mistake of any kind;

(3)As part of an illegal transaction;

(4)In breach of duty.

(B)To the extent permitted by other law, negotiation may be rescinded or may be subject to other remedies, but those remedies may not be asserted against a subsequent holder in due course or a person paying the instrument in good faith and without knowledge of facts that are a basis for the rescission or other remedy.

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(A) Negotiation is effective even if it is obtained in any of the following manners:

(1) From an infant, a corporation exceeding its powers, or any other person without capacity;

(2) By fraud, duress, or mistake of any kind;

(3) As part of an illegal transaction;

(4) In breach of duty.

(B) To the extent permitted by other law, negotiation may be rescinded or may be subject to other remedies, but those remedies may not be asserted against a subsequent holder in due course or a person paying the instrument in good faith and without knowledge of facts that are a basis for the rescission or other remedy.