28-3-306 CLAIMS TO AN INSTRUMENT. - Idaho Statutes

TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 3

UNIFORM COMMERCIAL CODE -- NEGOTIABLE INSTRUMENTS

PART 3.

ENFORCEMENT OF INSTRUMENTS

28-3-306. 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.