2016 Maryland Code
Commercial Law
Title 3 - Negotiable Instruments
Subtitle 3 - Enforcement of Instruments
§ 3-306. Claims to an instrument

MD Comm L Code § 3-306 (2016) What's This?

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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