Every retail installment sale shall be evidenced by an instrument in writing. A copy of said instrument shall be delivered to the retail buyer by the retail seller at the time of its execution. An acknowledgment of the delivery thereof contained in the body of the instrument is prima-facie proof of delivery in any action to enforce any obligation arising out of the retail installment sale. The written instrument shall contain all of the agreements of the parties, and shall set forth specifically all items and matters required by sections 1317.01 to 1317.11, inclusive, of the Revised Code. The reference to insurance shall recite generally the type of insurance the retail seller has agreed to procure for the retail buyer but such reference to insurance shall not be construed to imply the scope of the coverage, the terms, exceptions, limitations, restrictions, or condition of the contract of insurance to be furnished. Said sections do not require the retail seller to comply with this section at any time prior to the delivery of the specific goods to the retail buyer.

Terms Used In Ohio Code 1317.02

  • Buyer: means a person that buys or agrees to buy goods or any legal successor in interest of such person. See Ohio Code 1317.01
  • Contract: A legal written agreement that becomes binding when signed.
  • Goods: means all things, including specially manufactured goods but not including the money in which the price is to be paid or things in action, that satisfy both of the following:

    (a) They are movable at the time of identification for sale or identification to the contract for sale;

    (b) They are purchased primarily for personal, family, or household purposes. See Ohio Code 1317.01

  • in writing: includes any representation of words, letters, symbols, or figures; this provision does not affect any law relating to signatures. See Ohio Code 1.59
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Retail: means to dispose of specific goods to, or to acquire specific goods by, a person for use other than for purposes of resale. See Ohio Code 1317.01
  • Retail buyer: means a buyer that is a party to a retail installment sale, or any legal successor in interest of such person. See Ohio Code 1317.01
  • Retail installment sale: includes every retail installment contract to sell specific goods, every consumer transaction in which the cash price may be paid in installments over a period of time, and every retail sale of specific goods to any person in which the cash price may be paid in installments over a period of time. See Ohio Code 1317.01
  • Retail seller: means a seller that is a party to a retail installment sale. See Ohio Code 1317.01
  • Seller: means a person who sells or agrees to sell goods. See Ohio Code 1317.01

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