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2017 Ohio Revised Code
Title [13] XIII COMMERCIAL TRANSACTIONS - OHIO UNIFORM COMMERCIAL CODE
Chapter 1303 - COMMERCIAL PAPER
Section 1303.23 - Negotiation subject to rescission - UCC 3-202.
Universal Citation: Ohio Rev Code § 1303.23 (2017)
(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(B) To the extent permitted by other law, negotiation may be rescinded or may be subject to other remedies, but those remedies may not be asserted against a subsequent holder in due course or a person paying the instrument in good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.
Effective Date: 08-19-1994 .
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