Ask Reggi Your Question Now

Reggi is the free generative AI assistance for regulatory compliance
Ask a Question

Can you summarize NHRS 382-A:3-306?

UNIFORM COMMERCIAL CODE > Claims to an Instrument.

Short Summary

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. Source. 1993, 346:1, eff. Jan. 1, 1994.

Jurisdiction

New Hampshire

Source
NHRS 382-A:3-306 [https://reggi.cloud.regology.com/regulations/US-NHRS/US-NHRS_T_XXXIV-A_C_382-A_S_3-306]