Ohio § 1310.40
Full text of Ohio Ohio Revised Code § 1310.40, with citation guidance and answers to common questions.
§ 1310.40.
(A) A lease contract imposes an obligation on each party that the other party's expectation
of receiving due performance will not be impaired. (B) If reasonable grounds for insecurity arise with respect to the performance of either
party, the insecure party may demand in writing adequate assurance of due performance. Until the insecure party receives that assurance, if commercially reasonable, the
insecure party may suspend any performance for which he has not already received the
agreed return. (C) A repudiation of the lease contract occurs if assurance of due performance adequate
under the circumstances of the particular case is not provided to the insecure party
within a reasonable time, not to exceed thirty days after receipt of a demand by the
other party. (D) Between merchants, the reasonableness of grounds for insecurity and the adequacy
of any assurance offered shall be determined according to commercial standards. (E) Acceptance of any nonconforming delivery or payment does not prejudice the aggrieved
party's right to demand adequate assurance of future performance.
Frequently Asked Questions About Ohio § 1310.40
What does Ohio Revised Code § 1310.40 cover?
Section 1310.40 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 § 1310.40?
A common citation format is "Ohio Revised Code § 1310.40" (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 § 1310.40 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.