South Carolina Statutes
§ 36-3-306 — Claims to 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.
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South Carolina § 36-3-306 (Claims to instrument.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 10.3-306; 1966 (54) 2716; 2008 Act No. 204, SECTION 2, eff July 1, 2008.
Nearby Sections
15
§ 36-3-101
Short title.§ 36-3-102
Subject matter.§ 36-3-103
Definitions.§ 36-3-104
Negotiable instrument.§ 36-3-105
Issue of instrument.§ 36-3-106
Unconditional promise or order.§ 36-3-107
Instrument payable in foreign money.§ 36-3-108
Payable on demand or at definite time.§ 36-3-109
Payable to bearer or order.§ 36-3-111
Place of payment.§ 36-3-112
Interest.§ 36-3-113
Date of instrument.§ 36-3-114
Contradictory terms of instrument.§ 36-3-115
Incomplete instrument.