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Can you summarize OHRC Chapter 1303?
Commercial Transactions > Commercial Paper
Short Summary
This legal document, governed by the Uniform Commercial Code (UCC) section 3-104, defines and regulates negotiable instruments such as checks, drafts, and certificates of deposit. It also covers various aspects related to negotiable instruments, including their conversion, presentment for payment or acceptance, dishonor, obligations of indorsers and drawers, evidence of dishonor, discharge of obligations, payment, tender of payment, and discharge of secondary obligors. The document applies to individuals and entities involved in commercial transactions and commercial paper in Ohio. It does not mention any specific exemptions or penalties.
Whom does it apply to?
The document applies to individuals and entities involved in commercial transactions and commercial paper in Ohio.
What does it govern?
The legal document governs negotiable instruments, including checks, drafts, and certificates of deposit, under the Uniform Commercial Code (UCC) section 3-104. It also covers the conversion of instruments, presentment for payment or acceptance, dishonor of notes and drafts, obligation of indorsers and drawers, evidence of dishonor, discharge of obligations, payment of instruments, tender of payment, and discharge of secondary obligors.
What are exemptions?
The document does not mention any specific exemptions.
What are the Penalties?
The document does not specify any penalties for non-compliance or violations.
Jurisdiction
Ohio