Statute · New York Uniform Commercial Code
N.Y. U.C.C. Law § 3-208 — Reacquisition
N.Y. U.C.C. Law § 3-208
- Type
- Statute
- Source
- New York Uniform Commercial Code
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
Section 3--208. Reacquisition.
Citator
N.Y. U.C.C. Law § 3-208 — Reacquisition is in force in the current edition of the Code, and nothing recorded condemns it.
Section 3--208. Reacquisition.
Where an instrument is returned to or reacquired by a prior party he may cancel any indorsement which is not necessary to his title and reissue or further negotiate the instrument, but any intervening party is discharged as against the reacquiring party and subsequent holders not in due course and if his indorsement has been cancelled is discharged as against subsequent holders in due course as well.