Statute · New York Uniform Commercial Code
N.Y. U.C.C. Law § 3-207 — Negotiation Effective Although It May Be Rescinded
N.Y. U.C.C. Law § 3-207
- Type
- Statute
- Source
- New York Uniform Commercial Code
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
Section 3--207. Negotiation Effective Although It May Be Rescinded.
Citator
N.Y. U.C.C. Law § 3-207 — Negotiation Effective Although It May Be Rescinded is in force in the current edition of the Code, and nothing recorded condemns it.
Section 3--207. Negotiation Effective Although It May Be Rescinded.
(1) Negotiation is effective to transfer the instrument although the negotiation is
(a) made by an infant, a corporation exceeding its powers, or any
other person without capacity; or
(b) obtained by fraud, duress or mistake of any kind; or
(c) part of an illegal transaction; or
(d) made in breach of duty.
(2) Except as against a subsequent holder in due course such negotiation is in an appropriate case subject to rescission, the declaration of a constructive trust or any other remedy permitted by law.