Mass. Gen. Laws ch. 106 § 3-306
Current through Chapter 231 of the 2024
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.
Mass. Gen. Laws ch. 106, § 3-306