Ohio § 1307.501
Full text of Ohio Ohio Revised Code § 1307.501, with citation guidance and answers to common questions.
§ 1307.501.
(A) The following rules apply to a negotiable tangible document of title: (1) If the document's original terms run to the order of a named person, the document
is negotiated by the named person's indorsement and delivery. After the named person's indorsement in blank or to bearer, any person may negotiate
the document by delivery alone. (2) If the document's original terms run to bearer, it is negotiated by delivery alone. (3) If the document's original terms run to the order of a named person and it is delivered
to the named person, the effect is the same as if the document had been negotiated. (4) Negotiation of the document after it has been indorsed to a named person requires
indorsement by the named person and delivery. (5) A document is duly negotiated if it is negotiated in the manner stated in this division
to a holder that purchases it in good faith, without notice of any defense against
or claim to it on the part of any person, and for value, unless it is established
that the negotiation is not in the regular course of business or financing or involves
receiving the document in settlement or payment of a monetary obligation. (B) The following rules apply to a negotiable electronic document of title: (1) If the document's original terms run to the order of a named person or to bearer,
the document is negotiated by delivery of the document to another person. Indorsement by the named person is not required to negotiate the document. (2) If the document's original terms run to the order of a named person and the named
person has control of the document, the effect is the same as if the document had
been negotiated. (3) A document is duly negotiated if it is negotiated in the manner stated in this division
to a holder that purchases it in good faith, without notice of any defense against
or claim to it on the part of any person, and for value, unless it is established
that the negotiation is not in the regular course of business or financing or involves
taking delivery of the document in settlement or payment of a monetary obligation. (C) Indorsement of a nonnegotiable document of title neither makes it negotiable nor
adds to the transferee's rights. (D) The naming in a negotiable bill of lading of a person to be notified of the arrival
of the goods does not limit the negotiability of the bill or constitute notice to
a purchaser of the bill of any interest of that person in the goods.
Frequently Asked Questions About Ohio § 1307.501
What does Ohio Revised Code § 1307.501 cover?
Section 1307.501 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 § 1307.501?
A common citation format is "Ohio Revised Code § 1307.501" (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 § 1307.501 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.