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Can you summarize MNST 336.3-306?

UNIFORM COMMERCIAL CODE > CLAIMS TO AN INSTRUMENT.

Short Summary

336.3-306 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-306 CLAIMS TO AN INSTRUMENT.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

Jurisdiction

Minnesota

Source
MNST 336.3-306 [https://reggi.cloud.regology.com/regulations/US-MNST/US-MNST_T_324_C_336_S_3-306]