GroundRules
Tex. Business & Commerce Code § 3.306: CLAIMS TO AN INSTRUMENT.
Where this section sits in the code
- BUSINESS AND COMMERCE CODE
- TITLE 1. UNIFORM COMMERCIAL CODE
- CHAPTER 3. NEGOTIABLE INSTRUMENTS
- SUBCHAPTER C. 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.
Amended by Acts 1995, 74th Leg., ch. 921, Sec. 1, eff. Jan. 1, 1996.
Collected 2026-08-27T01:46:56Z. Source file · JSON