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.
Code 1950, §§ 6-367, 6-368, 6-380, 6-409 through 6-411; 1964, c. 219, §§ 8.3-305, 8.3-306; 1992, c. 693.
Structure Code of Virginia
Title 8.3A - Commercial Code - Negotiable Instruments
§ 8.3A-301. Person entitled to enforce instrument
§ 8.3A-302. Holder in due course
§ 8.3A-303. Value and consideration
§ 8.3A-304. Overdue instrument
§ 8.3A-305. Defenses and claims in recoupment
§ 8.3A-306. Claims to an instrument
§ 8.3A-307. Notice of breach of fiduciary duty
§ 8.3A-308. Proof of signatures and status as holder in due course
§ 8.3A-309. Enforcement of lost, destroyed, or stolen instrument
§ 8.3A-310. Effect of instrument on obligation for which taken
§ 8.3A-311. Accord and satisfaction by use of instrument
§ 8.3A-312. Lost, destroyed, or stolen cashier's check, teller's check, or certified check