GroundRules
Ala. Code § 7-3-306: Claims to an Instrument.
Where this section sits in the code
- Title 7 Commercial Code.
- Article 3 Negotiable Instruments.
- Part 3 Enforcement of Instruments.
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.
Collected 2026-09-03T14:01:52Z. Source file · JSON