Ohio § 1303.33
Full text of Ohio Ohio Revised Code § 1303.33, with citation guidance and answers to common questions.
§ 1303.33.
(A) An instrument is issued or transferred for value if any of the following apply: (1) The instrument is issued or transferred for a promise of performance, to the extent
the promise has been performed. (2) The transferee acquires a security interest or other lien in the instrument other
than a lien obtained by judicial proceeding. (3) The instrument is issued or transferred as payment of, or as security for, an antecedent
claim against any person, whether or not the claim is due. (4) The instrument is issued or transferred in exchange for a negotiable instrument. (5) The instrument is issued or transferred in exchange for the incurring of an irrevocable
obligation to a third party by the person taking the instrument. (B) “ Consideration ” means any consideration sufficient to support a simple contract. The drawer or maker of an instrument has a defense if the instrument is issued without
consideration. If an instrument is issued for a promise of performance, the issuer has a defense
to the extent performance of the promise is due and the promise has not been performed. If an instrument is issued for value as stated in division (A) of this section,
the instrument is also issued for consideration.
Frequently Asked Questions About Ohio § 1303.33
What does Ohio Revised Code § 1303.33 cover?
Section 1303.33 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1303.33?
A common citation format is "Ohio Revised Code § 1303.33" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1303.33 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.