§ 3-203. Transfer
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 3-203
§ 3-203. Transfer
(b) Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transferee any right of the transferor to enforce the instrument, including any right as a holder in due course, but the transferee cannot acquire rights of a holder in due course by a transfer, directly or indirectly, from a holder in due course if the transferee engaged in fraud or illegality affecting the instrument.
(c) Unless otherwise agreed, if an instrument is transferred for value and the transferee does not become a holder because of lack of indorsement by the transferor, the transferee has a specifically enforceable right to the unqualified indorsement of the transferor, but negotiation of the instrument does not occur until the indorsement is made.
Credits
Added by Acts 1996, c. 91, § 2, eff. Jan. 1, 1997.
MD Code, Commercial Law, § 3-203, MD COML § 3-203
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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