Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Short title [UCC 7-101] (A) This chapter may be cited as “Uniform Commercial Code, documents of title.” (B) This chapter uses the numbering system of the national conference of commissioners on uniform state laws. The digits to the right of the decimal […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Definitions and index of definitions [UCC 7-102] (A) As used in sections 1307.101 to 1307.603 of the Revised Code, unless the context otherwise requires: (1) “Bailee” means a person that by a warehouse receipt, bill of lading, or other document of the […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Relation of Chapter 1307. of the Revised Code to treaty or statute [UCC 7-103] (A) Sections 1307.101 to 1307.603 of the Revised Code are subject to any treaty or statute of the United States or regulatory statute of this state to the […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Negotiable and nonnegotiable document of title [UCC 7-104] (A) Except as otherwise provided in division (C) of this section, a document of title is negotiable if by its terms the goods are to be delivered to bearer or to the order of […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Reissuance in alternative medium [UCC 7-105] (A) Upon request of a person entitled under an electronic document of title, the issuer of the electronic document may issue a tangible document of title as a substitute for the electronic document if: (1) The […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Control of electronic document of title [UCC 7-106] (A) A person has control of an electronic document of title if a system employed for evidencing the transfer of interests in the electronic document reliably establishes that person as the person to which […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Person that may issue a warehouse receipt; storage under bond [UCC 7-201] (A) A warehouse receipt may be issued by any warehouse. (B) If goods, including distilled spirits and agricultural commodities, are stored under a statute requiring a bond against withdrawal or […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Form of warehouse receipt; effect of omission [UCC 7-202] (A) A warehouse receipt need not be in any particular form. (B) Unless a warehouse receipt provides for each of the following, the warehouse is liable for damages caused to a person injured […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Liability for nonreceipt or misdescription [UCC 7-203] A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies upon the description of the goods in the document may recover from […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Duty of care; contractual limitation of warehouse’s liability [UCC 7-204] (A) A warehouse is liable for damages for loss of or injury to the goods caused by its failure to exercise care with regard to the goods that a reasonably careful person […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Title under warehouse receipt defeated in certain cases [UCC 7-205] A buyer in ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling such goods takes the goods free […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Termination of storage at warehouse’s option [UCC 7-206] (A) A warehouse, by giving notice to the person on whose account the goods are held and any other person known to claim an interest in the goods, may require payment of any charges […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Goods must be kept separate; fungible goods [UCC 7-207] (A) Unless the warehouse receipt provides otherwise, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods. However, different […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Altered warehouse receipts [UCC 7-208] If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good-faith purchaser for value and without notice of the lack of authority may treat the insertion as authorized. Any other unauthorized […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Lien of warehouse [UCC 7-209] (A) A warehouse has a lien against the bailor on the goods covered by a warehouse receipt or storage agreement or on the proceeds thereof in its possession for charges for storage or transportation, including demurrage and […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Enforcement of warehouse’s lien [UCC 7-210] (A) Except as otherwise provided in division (B) of this section, a warehouse’s lien may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place and […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Liability for nonreceipt or misdescription; “said to contain”; “shipper’s weight, load, and count”; improper handling [UCC 7-301] (A) A consignee of a nonnegotiable bill of lading which has given value in good faith, or a holder to which a negotiable bill has […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Through bills of lading and similar documents of title [UCC 7-302] (A) The issuer of a through bill of lading, or other document of title embodying an undertaking to be performed in part by a person acting as its agent or by […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Diversion; reconsignment; change of instructions [UCC 7-303] (A) Unless the bill of lading otherwise provides, a carrier may deliver the goods to a person or destination other than that stated in the bill or may otherwise dispose of the goods, without liability […]
Effective: June 29, 2011 Latest Legislation: House Bill 9 – 129th General Assembly Tangible bills of lading in a set [UCC 7-304] (A) Except as customary in international transportation, a tangible bill of lading may not be issued in a set of parts. The issuer is liable for damages caused by violation of this division. […]
