Illinois Code § 810 ILCS 5/3-306

Claims to an instrument.
Open in Lexace · Ask the AI about this section
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.

‹ Prev All Illinois sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.