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Ohio Revised Code Title XIII. Commercial Transactions § 1303.23

Current as of January 01, 2024 | Updated by Findlaw Staff

(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(B) To the extent permitted by other law, negotiation may be rescinded or may be subject to other remedies, but those remedies may not be asserted against a subsequent holder in due course or a person paying the instrument in good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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Cite this article: FindLaw.com - Ohio Revised Code Title XIII. Commercial Transactions § 1303.23 - last updated January 01, 2024 | https://codes.findlaw.com/oh/title-xiii-commercial-transactions/oh-rev-code-sect-1303-23/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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