☰ Revisor of Missouri

Title XXVI TRADE AND COMMERCE

Chapter 400

Effective - 28 Aug 1992, 2 histories bottom

  400.3-202.  Negotiation subject to rescission. — (a)  Negotiation is effective even if obtained (i) from an infant, a corporation exceeding its powers, or a person without capacity, (ii) by fraud, duress, or mistake, or (iii) in breach of duty or as part of an illegal transaction.

  (b)  To the extent permitted by other law, negotiation may be rescinded or may be subject to other remedies, but those remedies may not be asserted against a subsequent holder in due course or a person paying the instrument in good faith and without knowledge of facts that are a basis for rescission or other remedy.

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(L. 1992 S.B. 448)


---- end of effective   28 Aug 1992 ----

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