Ohio § 1303.34
Full text of Ohio Ohio Revised Code § 1303.34, with citation guidance and answers to common questions.
§ 1303.34.
(A) An instrument payable on demand becomes overdue at the earliest of the following
times: (1) On the day after the day during which demand for payment is duly made; (2) If the instrument is a check, ninety days after its date; (3) If the instrument is not a check, when the instrument has been outstanding for a
period of time after its date that is unreasonably long under the circumstances of
the particular case in light of the nature of the instrument and the usage of the
trade. (B) With respect to an instrument payable at a definite time, the following rules apply: (1) If the principal is payable in installments and a due date has not been accelerated,
the instrument becomes overdue upon default under the instrument for nonpayment of
an installment, and the instrument remains overdue until the default is cured. (2) If the principal is not payable in installments and the due date has not been accelerated,
the instrument becomes overdue on the day after the due date. (3) If a due date with respect to principal has been accelerated, the instrument becomes
overdue on the day after the accelerated due date. (C) Unless the due date of principal has been accelerated, an instrument does not become
overdue if there is default in payment of interest but no default in payment of principal.
Frequently Asked Questions About Ohio § 1303.34
What does Ohio Revised Code § 1303.34 cover?
Section 1303.34 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 § 1303.34?
A common citation format is "Ohio Revised Code § 1303.34" (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 § 1303.34 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.