2006 Ohio Revised Code - 1302.16. (UCC 2-303) Allocation or division of risks.
§ 1302.16. (UCC 2-303) Allocation or division of risks.
Where the provisions of
sections 1302.01 to
1302.98, inclusive, of the Revised Code allocate a risk or a burden as between the parties "unless otherwise agreed" the agreement may not only shift the allocation but may also divide the risk or burden.
HISTORY: 129 v S 5. Eff 7-1-62.
Analogous to former RC § 1315.72.
Official Comment
1. This section is intended to make it clear that the parties may modify or allocate "unless otherwise agreed" risks or burdens imposed by this Article [Chapter] as they desire, always subject, of course, to the provisions on unconscionability.
2. The risk or burden may be divided by the express terms of the agreement or by the attending circumstances, since under the definition of "agreement" in this Act the circumstances surrounding the transaction as well as the express language used by the parties enter into the meaning and substance of the agreement.
Point 1: Sections 1-102, 2-302.
Point 2: Section 1-201.
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