403.306 Claims to an 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.
History: 1995 a. 449.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 403 - Uniform commercial code — negotiable instruments.
403.104 - Negotiable instrument.
403.105 - Issue of instrument.
403.106 - Unconditional promise or order.
403.107 - Instrument payable in foreign money.
403.108 - Payable on demand or at definite time.
403.109 - Payable to bearer or to order.
403.110 - Identification of person to whom instrument is payable.
403.114 - Contradictory terms of instrument.
403.115 - Incomplete instrument.
403.116 - Joint and several liability; contribution.
403.117 - Other agreements affecting instrument.
403.118 - Statute of limitations.
403.119 - Notice of right to defend action.
403.202 - Negotiation subject to rescission.
403.203 - Transfer of instrument; rights acquired by transfer.
403.205 - Special endorsement; blank endorsement; anomalous endorsement.
403.206 - Restrictive endorsement.
403.301 - Person entitled to enforce instrument.
403.302 - Holder in due course.
403.303 - Value and consideration.
403.305 - Defenses and claims in recoupment.
403.306 - Claims to an instrument.
403.307 - Notice of breach of fiduciary duty.
403.308 - Proof of signatures and status as holder in due course.
403.309 - Enforcement of lost, destroyed or stolen instrument.
403.310 - Effect of instrument on obligation for which taken.
403.311 - Accord and satisfaction by use of instrument.
403.312 - Lost, destroyed or stolen cashier's check, teller's check or certified check.
403.402 - Signature by representative.
403.403 - Unauthorized signature.
403.404 - Impostors; fictitious payees.
403.405 - Employer's responsibility for fraudulent endorsement by employee.
403.406 - Negligence contributing to forged signature or alteration of instrument.
403.408 - Drawee not liable on unaccepted draft.
403.409 - Acceptance of draft; certified check.
403.410 - Acceptance varying draft.
403.411 - Refusal to pay cashier's checks, teller's checks and certified checks.
403.412 - Obligation of issuer of note or cashier's check.
403.413 - Obligation of acceptor.
403.414 - Obligation of drawer.
403.415 - Obligation of endorser.
403.416 - Transfer warranties.
403.417 - Presentment warranties.
403.418 - Payment or acceptance by mistake.
403.419 - Instruments signed for accommodation.
403.420 - Conversion of instrument.
403.504 - Excused presentment and notice of dishonor.
403.505 - Evidence of dishonor.
403.601 - Discharge and effect of discharge.