Ohio § 1317.04
Full text of Ohio Ohio Revised Code § 1317.04, with citation guidance and answers to common questions.
§ 1317.04.
The written instrument evidencing a retail installment sale and required by section 1317.02 of the Revised Code shall recite the following: (A) The cash price of the specific goods. (B) The amount in cash of the retail buyer's down payment, if any, whether made in money
or goods or partly in money or partly in goods. (C) The unpaid balance of the cash price payable by the retail buyer to the retail seller
which is the difference between divisions (A) and (B). (D) The amount included for any insurance and the types of insurance coverage. (E) The principal balance owed on the retail installment contract which is the sum total
of divisions (C) and (D). (F) The amount of the finance charge. (G) The time balance or indebtedness owed by the retail buyer to the retail seller and
the number of installment payments required and the amount and date of each payment
necessary finally to pay the time balance which is the sum total of divisions (E)
and (F). Divisions (D) and (F) may be added together and stated as one sum in the written instrument
and if so stated division (E) may be omitted, but in such event the retail seller
or the retail seller's successor in interest shall, within twenty-five days after
the making of the retail installment contract, deliver personally, send by mail, or
cause to be sent by mail, to the retail buyer at the retail buyer's address as shown
on the retail installment contract, a statement reciting the separate amounts of divisions
(D), (E), and (F). Division (F) may be stated as a rate, if said rate does not exceed eight per cent
per annum straight interest, in which event the time balance provided in division
(G) need not be stated. The amount and date of each payment need not be separately listed if the payments
are specified in terms of a series of payments of specified amounts, which amounts
may state the principal amount plus the finance charge in terms of a rate at specified
intervals of time from an initial date. The initial date for the payment of the first installment may be a calendar date or
may refer to the time of delivery or installation. As used in this section “ down payment ” means that part of the payment of the cash price required by the retail seller as
a condition to the delivery of the specific goods sold or to be sold or to the extension
of credit to the retail buyer for any portion of the cash price.
Frequently Asked Questions About Ohio § 1317.04
What does Ohio Revised Code § 1317.04 cover?
Section 1317.04 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 § 1317.04?
A common citation format is "Ohio Revised Code § 1317.04" (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 § 1317.04 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.