Del. Code tit. 6 § 3-306

Current through 2024 Legislative Session Act Chapter 510

Section 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.

6 Del. C. § 3-306

5A Del. C. 1953, § 3-306; 55 Del. Laws, c. 349; 70 Del. Laws, c. 86, § 3.;