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New Jersey Statutes, Title: 12A, COMMERCIAL TRANSACTIONS
Chapter 3:
Section: 12A:3-306: 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.
L.1995,c.28,s.1.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 12a:3-306 (if available):
Court decisions that cite this statute:
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