336.3-306 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-306 CLAIMS TO AN INSTRUMENT.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.
History:1992 c 565 s 34