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Marginalia
Code · California · Commercial Code

§ 3306

67 words·~1 min read·/ca/commercial-code/3306

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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.
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