§ 8.3A-306. Claims to an instrument
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.
(Code 1950, §§ 6-367, 6-368, 6-380, 6-409 through 6-411; 1964, c. 219, §§ 8.3-305, 8.3-306; 1992, c. 693.)
Sections: Previous 8.3A-301 8.3A-302 8.3A-303 8.3A-304 8.3A-305 8.3A-306 8.3A-307 8.3A-308 8.3A-309 8.3A-310 8.3A-311 8.3A-312 NextLast modified: April 3, 2009