A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
Section: Previous 45.03.301 45.03.302 45.03.303 45.03.304 45.03.305 45.03.306 45.03.307 45.03.308 45.03.309 45.03.310 45.03.311 45.03.312 NextLast modified: November 15, 2016