Ohio § 1303.50 Alteration - UCC 3-407

Ohio Statutes

§ 1303.50 — Alteration - UCC 3-407

Ohio § 1303.50

Title 13Commercial Transactions

Ch. 1303Commercial Paper

This text of Ohio § 1303.50 (Alteration - UCC 3-407) 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. § 1303.50 (2026).

Text

(A)"Alteration" means either of the following:

(1)An unauthorized change in an instrument that purports to modify in any respect the obligation of a party.

(2)An unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.

(B)Except as provided in division (C) of this section, an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration. No other alteration discharges a party, and the instrument may be enforced according to its original terms.

(C)A payor bank or drawee paying a fraudulently altered instrument or a person taking it for value, in good faith and without notice of the alteration, may enforce rights

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(A) "Alteration" means either of the following:

(1) An unauthorized change in an instrument that purports to modify in any respect the obligation of a party.

(2) An unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.

(B) Except as provided in division (C) of this section, an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration. No other alteration discharges a party, and the instrument may be enforced according to its original terms.

(C) A payor bank or drawee paying a fraudulently altered instrument or a person taking it for value, in good faith and without notice of the alteration, may enforce rights with respect to the instrument according to its original terms or, if the incomplete instrument was altered by unauthorized completion, according to its terms as completed.