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.
Miss. Code Ann. § 75-3-306
Claims to an instrument
Known as the Uniform Commercial Code
The act spans §§ 75–75 (480 sections).
Applied in 3 court decisions — leading case 455 So. 2d 762 - Martin v. Winfield (1984)
Most recently applied in Midwest Feeders, Inc. v. Bank of Franklin (March 2018)
Former § 75-3-306: Codes, 1942, § 41A:3-306; Laws, 1966, ch. 316, § 3-306; Laws, 1992, ch. 420, § 32, eff from and after January 1, 1993.
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.