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Cal. Commercial Code § 3306

Cal. Commercial Code § 3306

California · California Commercial Code · Status: effective · Effective 1993-01-01

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Cal. Commercial Code § 3306, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/790381
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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.