(1) "Fiduciary" means an agent, trustee, partner, corporate officer, corporate director, or other representative owing a fiduciary duty with respect to an instrument.
(2) "Represented person" means the principal, beneficiary, partnership, corporation, or other person to whom the fiduciary duty with respect to an instrument referred to in division (A)(1) of this section is owed.
(B) If an instrument is taken from a fiduciary for payment or collection or for value, the taker has knowledge of the fiduciary status of the fiduciary, and the represented person makes a claim to the instrument or its proceeds on the basis that the transaction of the fiduciary is a breach of fiduciary duty, all of the following rules apply:
(1) Notice of breach of fiduciary duty by the fiduciary is notice of the claim of the represented person.
(2) In the case of an instrument payable to the represented person or to the fiduciary as fiduciary of the represented person, the taker has notice of the breach of fiduciary duty if any of the following apply:
(a) The instrument is taken in payment of or as security for a debt known by the taker to be the personal debt of the fiduciary.
(b) The instrument is taken in a transaction known by the taker to be for the personal benefit of the fiduciary.
(c) The instrument is deposited to an account other than an account of the fiduciary as fiduciary of the represented person or an account of the represented person.
(3) If an instrument is issued by the represented person or by the fiduciary as fiduciary of the represented person and is made payable to the fiduciary personally, the taker does not have notice of the breach of fiduciary duty unless the taker knows of the breach of fiduciary duty.
(4) If an instrument is issued by the represented person or by the fiduciary of the represented person to the taker as payee, the taker has notice of the breach of fiduciary duty if any of the following apply:
(a) The instrument is taken in payment of or as security for a debt known by the taker to be the personal debt of the fiduciary.
(b) The instrument is taken in a transaction known by the taker to be for the personal benefit of the fiduciary.
(c) The instrument is deposited to an account other than an account of the fiduciary as fiduciary for the represented person or an account of the represented person.
Notes of Decisions
Cited in 10
cases (1 in the last 5 years), 1984–2022 · leading case: Dice v. White Fam. Companies, Inc., 878 N.E.2d 1105 (Ohio Ct. App. 2007).
Dice v. White Fam. Companies, Inc., 878 N.E.2d 1105 (Ohio Ct. App. 2007). · cites it 3דAccordingly, WFC and Wenrick’s receipt of funds from Dayton Title did not create notice of a breach of fiduciary duty under R.C. 1303.37 or indicate a lack of good faith under R.”
Morris v. Ohio Cas. Ins., 517 N.E.2d 904 (Ohio 1988). · cites it 2ד27(C) and Comment 2 to UCC 3-401, R.C. 1303.37, 6 we find that the *50 endorsements at issue herein were unauthorized and thus not valid to operate as the signature of either the administrator or the guardian, the payees thereon.”
Belfance v. Huntington Nat'l Bank (In Re World Metal, Inc.), 313 B.R. 720 (Bankr. N.D. Ohio 2004). · cites it 13דWoolard-Glause breached her fiduciary duty to World Metals and that Huntington had notice of such breach pursuant to O.R.C. § 1303.37. See Complaint at ¶¶ 47-52.”
Glimcher v. Reinhorn, 587 N.E.2d 462 (Ohio Ct. App. 1991). “R.C. 1303.37(A). In the present case, both plaintiff and defendant signed each of the promissory notes as well as guarantees of payment.”
Green Tree Servicing, L.L.C. v. Roberts, 2013 Ohio 5362 (Ohio Ct. App. 2013). “, citing R.C. 1303.37(A). R.C. 1303.36(A) provides that, "[u]nless specifically denied in the pleadings, in an action with respect to an instrument, the authenticity of, and authority to make, each signature on an instrument is admitted.”
Huron Cnty. Banking Co., N.A. v. Knallay, 489 N.E.2d 1049 (Ohio Ct. App. 1984). “” R.C. 1303.37(A). There is no factual dispute in the instant case regarding whether appellant’s signature appears on the instrument.”
Duncan v. Bartone, 2022 Ohio 755 (Ohio Ct. App. 2022). “{¶13} Appellant’s fourth claim, entitled “Trust broken,” cites R.C. 1303.37 and R.C. 2137.14 which require a showing that a defendant owed appellant a fiduciary duty.”
Dryden v. Dryden, 621 N.E.2d 1216 (Ohio Ct. App. 1993). “However, no person is liable on an instrument unless his signature appears thereon, R.C. 1303.37(A), and any unauthorized signature is wholly inoperative as that of the person whose name is signed unless he ratifies it or is precluded from denying it.”
Bank of Am., N.A. v. Calloway, 2016 Ohio 7959 (Ohio Ct. App. 2016). “, citing R.C. 1303.37(A). R.C. 1303.36(A) provides that, “[u]nless specifically denied in the pleadings, in an action with respect to an instrument, the authenticity of, and authority to make, each signature on an instrument is admitted.”
— Ohio Rev. Code § 1303.37(A) — 5 cases
Glimcher v. Reinhorn, 587 N.E.2d 462 (Ohio Ct. App. 1991). “R.C. 1303.37(A). In the present case, both plaintiff and defendant signed each of the promissory notes as well as guarantees of payment.”
Green Tree Servicing, L.L.C. v. Roberts, 2013 Ohio 5362 (Ohio Ct. App. 2013). “, citing R.C. 1303.37(A). R.C. 1303.36(A) provides that, "[u]nless specifically denied in the pleadings, in an action with respect to an instrument, the authenticity of, and authority to make, each signature on an instrument is admitted.”
Huron Cnty. Banking Co., N.A. v. Knallay, 489 N.E.2d 1049 (Ohio Ct. App. 1984). “” R.C. 1303.37(A). There is no factual dispute in the instant case regarding whether appellant’s signature appears on the instrument.”
Dryden v. Dryden, 621 N.E.2d 1216 (Ohio Ct. App. 1993). “However, no person is liable on an instrument unless his signature appears thereon, R.C. 1303.37(A), and any unauthorized signature is wholly inoperative as that of the person whose name is signed unless he ratifies it or is precluded from denying it.”
Bank of Am., N.A. v. Calloway, 2016 Ohio 7959 (Ohio Ct. App. 2016). “, citing R.C. 1303.37(A). R.C. 1303.36(A) provides that, “[u]nless specifically denied in the pleadings, in an action with respect to an instrument, the authenticity of, and authority to make, each signature on an instrument is admitted.”
— Ohio Rev. Code § 1303.37(A)(1) — 1 case
Belfance v. Huntington Nat'l Bank (In Re World Metal, Inc.), 313 B.R. 720 (Bankr. N.D. Ohio 2004). “Woolard-Glause breached her fiduciary duty to World Metals and that Huntington had notice of such breach pursuant to O.R.C. § 1303.37. See Complaint at ¶¶ 47-52.”
— Ohio Rev. Code § 1303.37(B) — 1 case
Belfance v. Huntington Nat'l Bank (In Re World Metal, Inc.), 313 B.R. 720 (Bankr. N.D. Ohio 2004). “Woolard-Glause breached her fiduciary duty to World Metals and that Huntington had notice of such breach pursuant to O.R.C. § 1303.37. See Complaint at ¶¶ 47-52.”
— Ohio Rev. Code § 1303.37(B)(4) — 1 case
Dice v. White Fam. Companies, Inc., 878 N.E.2d 1105 (Ohio Ct. App. 2007). “Accordingly, WFC and Wenrick’s receipt of funds from Dayton Title did not create notice of a breach of fiduciary duty under R.C. 1303.37 or indicate a lack of good faith under R.”
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