Wyoming § 34.1-3-207 Reacquisition

Wyoming Statutes

§ 34.1-3-207 — Reacquisition

Wyoming·Title 34.1 Uniform Commercial Code·Art. 3 NEGOTIABLE INSTRUMENTS

Reacquisition of an instrument occurs if it is transferred to a
former holder, by negotiation or otherwise. A former holder who
reacquires the instrument may cancel indorsements made after the
reacquirer first became a holder of the instrument. If the
cancellation causes the instrument to be payable to the
reacquirer or to bearer, the reacquirer may negotiate the
instrument. An indorser whose indorsement is cancelled is
discharged, and the discharge is effective against any
subsequent holder.
PART 3
ENFORCEMENT OF INSTRUMENTS

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Reacquisition of an instrument occurs if it is transferred to a
former holder, by negotiation or otherwise. A former holder who
reacquires the instrument may cancel indorsements made after the
reacquirer first became a holder of the instrument. If the
cancellation causes the instrument to be payable to the
reacquirer or to bearer, the reacquirer may negotiate the
instrument. An indorser whose indorsement is cancelled is
discharged, and the discharge is effective against any
subsequent holder.
PART 3
ENFORCEMENT OF INSTRUMENTS

Wyoming § 34.1-3-207 (Reacquisition) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.