Ohio § 1310.70 Lessor's right to identify goods to lease contract - UCC 2A-524

Ohio Statutes

§ 1310.70 — Lessor's right to identify goods to lease contract - UCC 2A-524

Ohio § 1310.70

Title 13Commercial Transactions

Ch. 1310Leases

This text of Ohio § 1310.70 (Lessor's right to identify goods to lease contract - UCC 2A-524) 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. § 1310.70 (2026).

Text

(A)After default by the lessee under a lease contract of the type described in division (A) or (C)(1) of section1310.69of the Revised Code or, if agreed, after other default by the lessee, the lessor may do both of the following:

(1)Identify to the lease contract conforming goods not already identified if, at the time the lessor learned of the default, they were in the lessor's or the supplier's possession or control.

(2)Dispose of goods, as provided in division (A) of section1310.73of the Revised Code, that demonstrably have been intended for the particular lease contract even though those goods are unfinished.

(B)If the goods are unfinished, in the exercise of reasonable commercial judgment for the purposes of avoiding loss and of effective realization, an aggrieved lessor or the

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(A) After default by the lessee under a lease contract of the type described in division (A) or (C)(1) of section1310.69of the Revised Code or, if agreed, after other default by the lessee, the lessor may do both of the following:

(1) Identify to the lease contract conforming goods not already identified if, at the time the lessor learned of the default, they were in the lessor's or the supplier's possession or control.

(2) Dispose of goods, as provided in division (A) of section1310.73of the Revised Code, that demonstrably have been intended for the particular lease contract even though those goods are unfinished.

(B) If the goods are unfinished, in the exercise of reasonable commercial judgment for the purposes of avoiding loss and of effective realization, an aggrieved lessor or the supplier may complete manufacture and wholly identify the goods to the lease contract, cease manufacture and lease, sell, or otherwise dispose of the goods for scrap or salvage value, or proceed in any other reasonable manner.