The issuer of a notice or cashier's check or other draft drawn on the drawer is obliged to pay the instrument in accordance with either of the following:
(A) According to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder;
(B) If the issuer signed an incomplete instrument, according to its terms when completed in accordance with sections 1303.11 and 1303.50 of the Revised Code. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under section 1303.55 of the Revised Code.
Notes of Decisions
Cited in 10
cases (1 in the last 5 years), 1968–2021 · leading case: Bank of Am., N.A. v. Pasqualone, 2013 Ohio 5795 (Ohio Ct. App. 2013).
Bank of Am., N.A. v. Pasqualone, 2013 Ohio 5795 (Ohio Ct. App. 2013). “UCC § 3-412 [R.C. 1303.52]. Further, if a maker pays a "person entitled to enforce" the note, the maker's obligations are discharged to the extent of the amount paid.”
Ohio Sav. Assn. v. Cortell, 495 N.E.2d 33 (Ohio Ct. App. 1985). · cites it 3ד* * *” R.C. 1303.52 (UCC 3-416) provides two capacities in which a Commercial Code surety may sign: “(A) ‘Payment guaranteed’ or equivalent words added to a signature mean that the signer engages that if the instrument is not paid when due he will pay it according to its tenor…”
Glimcher v. Reinhorn, 587 N.E.2d 462 (Ohio Ct. App. 1991). “See R.C. 1303.52. As previously noted, parties may also demonstrate their accommodation status through the use of parol evidence.”
N. Ohio Tractor, Inc. v. Richardson, 456 N.E.2d 824 (Ohio Ct. App. 1982). · cites it 3דHowever, R.C. 1303.52 pertains solely to negotiable instruments.”
Fed. Land Bank v. Taggart, 508 N.E.2d 152 (Ohio 1987). “R.C. 1303.52 (UCC 3-416[5]). However, Official Comment 1 to R.”
Mut. Fin. Co. v. Politzer, 241 N.E.2d 906 (Ohio Ct. App. 1968). · cites it 4דSection 1303.52 (A), Revised Code (Section 3-416 (1) of the Uniform Commercial Code), provides as follows: “(A) ‘Payment guaranteed’ or equivalent words added to a signature mean that the signer engages that if the instrument is not paid when due he will pay it according to its…”
Bank of New York Mellon v. Primes, 2018 Ohio 1833 (Ohio Ct. App. 2018). “99443, 2013-Ohio-5574 , we stated: When a person signs a promissory note, that person incurs the obligation contained in R.C. 1303.52(B) that the instrument will be paid to a person entitled to enforce the note.”
Loveland Props. v. Ten Jays, Inc., 567 N.E.2d 270 (Ohio Ct. App. 1988). “1 We use “guaranty” as a noun describing the promise to answer for the debt of another, and “guarantee” as a transitive verb descriptive of the act, because this use of words is consistent with the use found in the Uniform Commercial Code, particularly R.C. 1303.52. 2 R.C.…”
Bank of New York Mellon v. Froimson, 2013 Ohio 5574 (Ohio Ct. App. 2013). “{¶13} When a person signs a promissory note, that person incurs the obligation contained in R.C. 1303.52(B) that the instrument will be paid to a person entitled to enforce the note.”
— Ohio Rev. Code § 1303.52(A) — 1 case
Ohio Sav. Assn. v. Cortell, 495 N.E.2d 33 (Ohio Ct. App. 1985). “* * *” R.C. 1303.52 (UCC 3-416) provides two capacities in which a Commercial Code surety may sign: “(A) ‘Payment guaranteed’ or equivalent words added to a signature mean that the signer engages that if the instrument is not paid when due he will pay it according to its tenor…”
— Ohio Rev. Code § 1303.52(B) — 3 cases
Bank of New York Mellon v. Primes, 2018 Ohio 1833 (Ohio Ct. App. 2018). “99443, 2013-Ohio-5574 , we stated: When a person signs a promissory note, that person incurs the obligation contained in R.C. 1303.52(B) that the instrument will be paid to a person entitled to enforce the note.”
Bank of New York Mellon v. Froimson, 2013 Ohio 5574 (Ohio Ct. App. 2013). “{¶13} When a person signs a promissory note, that person incurs the obligation contained in R.C. 1303.52(B) that the instrument will be paid to a person entitled to enforce the note.”
N. Ohio Tractor, Inc. v. Richardson, 456 N.E.2d 824 (Ohio Ct. App. 1982). “However, R.C. 1303.52 pertains solely to negotiable instruments.”
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