Ohio Revised Code

Ohio Rev. Code § 1303.53 (2026)

Obligation of acceptor - UCC 3-413

✓ current as of May 2026

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Effective:

August 19, 1994

Latest Legislation:

Senate Bill 147 - 120th General Assembly

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(A) The acceptor of a draft is obliged to pay the draft in accordance with one of the following:

(1) According to its terms at the time it was accepted, even though the acceptance states that the draft is payable "as originally drawn" or equivalent terms;

(2) If the acceptance varies the terms of the draft, according to the terms of the draft as varied;

(3) If the acceptance is of a draft that is an incomplete instrument, according to its terms when completed, to the extent required by sections 1303.11 and 1303.50 of the Revised Code. The obligation is owed to a person entitled to enforce the draft or to the drawer or an indorser who paid the draft pursuant to section 1303.54 or 1303.55 of the Revised Code.

(B) If the certification of a check or other acceptance of a draft states the amount certified or accepted, the obligation of the acceptor is that amount. The obligation of the acceptor is the amount of the instrument at the time it was taken by the holder in due course if all of the following apply:

(1) The certification or acceptance does not state an amount.

(2) The amount of the instrument is subsequently raised.

(3) After the amount of the instrument is subsequently raised, the instrument is negotiated to a holder in due course.

Notes of Decisions

Cited in 6 cases, 1968–1991 · leading case: G.F.D. Enter., Inc. v. Nye, 525 N.E.2d 10 (Ohio 1988).

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G.F.D. Enter., Inc. v. Nye, 525 N.E.2d 10 (Ohio 1988). · cites it 3× “* * *” Whenever, as here, the party giving the warranty is covered by both R.C. 1303.53 warranties and those of 1304.”

Soc'y Nat'l Bank of Cleveland v. Capital Nat'l Bank, 281 N.E.2d 563 (Ohio Ct. App. 1972). · cites it 2× “The pertinent provisions are ; Section 1303.53 “{A) Any person 2 who obtains payment or acceptance and any prior transferor warrants to a person who in good faith pays or accepts that: “ (1) he has a good title to the instrument 3 or is authorized to obtain payment or acceptance…”

ABC Money Exch. v. Pub. Employees Ret. Sys., 591 N.E.2d 1359 (Ohio Ct. App. 1990). · cites it 9× “HAD BREACHED THE WARRANTY OF GOOD TITLE IN R.C. 1303.53. "II. THE TRIAL COURT ERRED IN GRANTING JUDGMENT TO PLAINTIFF BECAUSE THE WARRANTS WERE PAYABLE ONLY IF ENDORSED BY THE PERS MEMBER.”

DeLuca v. Bancohio Nat'l Bank, Inc., 598 N.E.2d 781 (Ohio Ct. App. 1991). “4-207), like Article Three’s R.C. 1303.53 (U.C.C. 3-417), establishes certain presentment warranties given to good faith payors by customers obtaining payment on items.”

Fair Fin. Co. v. Fourco, Inc., 237 N.E.2d 406 (Ohio Ct. App. 1968). · cites it 4× “” Is this, then, a matter which is provided for in the Uniform Commercial Code? Section 1303.53, Revised Code (U. C. C. 3-417), says, in part: “(B) Any person who transfers an instrument and receives consideration warrants to his transferee and if the transfer is by indorsement…”

Pub. Fin. Corp. of Youngstown No. 2 v. Furnitureland of Youngstown, Inc., 245 N.E.2d 740 (Ohio Ct. App. 1969). · cites it 2× “Section 1303.53 (B) of the Revised Code provides that any person who transfers a negotiable instrument for a consideration warrants to his transferee that he has good title to the instrument and that no defense of any party is good against him.”

Ohio Rev. Code § 1303.53(A): 1 case

ABC Money Exch. v. Pub. Employees Ret. Sys., 591 N.E.2d 1359 (Ohio Ct. App. 1990). “HAD BREACHED THE WARRANTY OF GOOD TITLE IN R.C. 1303.53. "II. THE TRIAL COURT ERRED IN GRANTING JUDGMENT TO PLAINTIFF BECAUSE THE WARRANTS WERE PAYABLE ONLY IF ENDORSED BY THE PERS MEMBER.”

Ohio Rev. Code § 1303.53(A)(1): 1 case

ABC Money Exch. v. Pub. Employees Ret. Sys., 591 N.E.2d 1359 (Ohio Ct. App. 1990). “HAD BREACHED THE WARRANTY OF GOOD TITLE IN R.C. 1303.53. "II. THE TRIAL COURT ERRED IN GRANTING JUDGMENT TO PLAINTIFF BECAUSE THE WARRANTS WERE PAYABLE ONLY IF ENDORSED BY THE PERS MEMBER.”

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