Colorado Statutes
§ 4-3-202 — Negotiation subject to rescission
(a)Negotiation is effective even
if obtained (i) from an infant, a corporation exceeding its powers, or a person
without capacity, (ii) by fraud, duress, or mistake, or (iii) in breach of duty or as part
of an illegal transaction.
(b)To the extent permitted by other law, negotiation may be rescinded or
may be subject to other remedies, but those remedies may not be asserted against
a subsequent holder in due course or a person paying the instrument in good faith
and without knowledge of facts that are a basis for rescission or other remedy.
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Legislative History
Source: L. 94: Entire article R&RE, p. 850, � 1, effective January 1, 1995.
Nearby Sections
15
§ 4-1-101
Short titles§ 4-1-102
Scope of article§ 4-1-104
Construction against implied repeal§ 4-1-105
Severability§ 4-1-106
Use of singular and plural - gender§ 4-1-107
Captions§ 4-1-201
General definitions§ 4-1-202
Notice - knowledge§ 4-1-204
Value§ 4-1-205
Reasonable time - seasonableness§ 4-1-302
Variation by agreement§ 4-1-304
Obligation of good faith