Ohio § 1310.46 Irrevocable promises, finance leases - UCC 2A-407

Ohio Statutes

§ 1310.46 — Irrevocable promises, finance leases - UCC 2A-407

Ohio § 1310.46

Title 13Commercial Transactions

Ch. 1310Leases

This text of Ohio § 1310.46 (Irrevocable promises, finance leases - UCC 2A-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. § 1310.46 (2026).

Text

(A)In the case of a finance lease that is not a consumer lease, the lessee's promises under the lease contract become irrevocable and independent upon the lessee's acceptance of the goods.

(B)Both of the following apply to a promise that has become irrevocable and independent under division (A) of this section:

(1)It is effective and enforceable between the parties and by or against third parties, including assignees of the parties.

(2)It is not subject to cancellation, termination, modification, repudiation, excuse, or substitution without the consent of the party to whom it runs.

(C)This section does not affect the validity under any other law of a covenant in any lease contract making the lessee's promises irrevocable and independent upon the lessee's acceptance of the goods.

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(A) In the case of a finance lease that is not a consumer lease, the lessee's promises under the lease contract become irrevocable and independent upon the lessee's acceptance of the goods.

(B) Both of the following apply to a promise that has become irrevocable and independent under division (A) of this section:

(1) It is effective and enforceable between the parties and by or against third parties, including assignees of the parties.

(2) It is not subject to cancellation, termination, modification, repudiation, excuse, or substitution without the consent of the party to whom it runs.

(C) This section does not affect the validity under any other law of a covenant in any lease contract making the lessee's promises irrevocable and independent upon the lessee's acceptance of the goods.